This essay by James K. Galbraith surveys some of the work of the University of Texas Inequality Project. This research group has for the past decade worked primarily to develop new measures of economic inequality based on the between-groups component of Theil’s T statistic. In this way, inequality statistics can be computed from many diverse and mundane sources of information and permit new analyses of economic change, by region, by sector, and by country. The results undermine many conventional views of inequality and broadly support the idea that the movement of inequality is closely related to macroeconomic events at the national and the global level.
Inequality, Unemployment and Growth: New Measures for Old Controversies. UTIP Working Paper No. 48. Austin: University of Texas Inequality Project.
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Full text: utip.gov.utexas.edu/papers/utip_48.pdf