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On the Theory of Knowledge Resource Inequality: Role of Knowledge Capital in Social Transformation

Chatterjee, Sidharta (2021): On the Theory of Knowledge Resource Inequality: Role of Knowledge Capital in Social Transformation.

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Abstract

Inequality is an effect of much concern for economists and policy makers. Inequality gives rise to poverty, a phenomenon still troubling the world economy characterized by a gap–wherein the standard deviation between the rich and the poor is too high. Various factors attribute to growing inequality, but one which is often overlooked is–misallocation of knowledge resources. In this paper, we reinforce the concept of knowledge as being a capital resource. Following this, by using a simple model, we attempt to explain inequality born out of its heterogeneous allocation and its discrete nature of distribution as a capital resource. The effect being that, lack of access to quality education for those who need it most creates a phenomenon which we call knowledge resource inequality (KRI).

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