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POTENTIAL ROLE OF CAPITAL MARKETS IN REDUCING INCOME AND WEALTH INEQUALITY

Obiyathulla Ismath Bacha, Abbas Mirakhor

Abstract

The following sections are included: IntroductionMainstream Economics and InequalityQuestioning the Axioms of the Mainstream FrameworkTheory of ContractsHow Did We Get Here?Destructive Effects of InequalityWhat Can Be Done: Proposed SolutionsInequality, Risk-Sharing Islamic Finance, and Capital MarketSummaryQuestions and ProblemsBibliographyEndnotes

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Key concepts: Inequality, Economics, Capital (architecture), Economic inequality, Labour economics, Geography, Mathematics, Mathematical analysis