Publication Type

Book Chapter

Version

publishedVersion

Publication Date

4-2019

Abstract

Inequality is an age-old concern. In recent years, the rise of income inequality has received worldwide media and policy attention, beginning with the Occupy movement of 2011-2012 and a wave of notable scholastic books such as Stiglitz (2012), Piketty (2014), and Atkinson (2015). Piketty’s Capital in the 21st Century, an unlikely bestseller, contained a vast amount of data showing that the rich are taking rising shares of income and wealth in the advanced economies. Piketty’s approach towards capital and wealth is an aggregative one, and he does not treat real estate or land as a different or distinct form of capital. He deals with neither spatial inequality nor the role of house price inflation in accentuating inequality. An aspatial approach leads to discussions about solutions to inequality focusing on aspatial aspects of higher income and wealth taxes, health and education policies, and labor market interventions such as minimum wages and universal basic incomes (Piketty, 2014; Atkinson, 2015; IMF, 2018).

Keywords

Housing, housing policies, inequality, ethnic segregation, Singapore

Discipline

Asian Studies | Public Economics | Urban Studies and Planning

Research Areas

Applied Microeconomics

Publication

International housing market experience and implications for China

Editor

Rebecca L. H. Chiu, Zhi Liu, & Bertrand Renaud

First Page

230

Last Page

253

ISBN

9781138345034

Identifier

10.1201/9780429438141-11

Publisher

Routledge

City or Country

New York

Copyright Owner and License

Publisher

Additional URL

https://doi.org/10.1201/9780429438141-11

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