Recent studies posit that the per capita incomes of developing countries are at last on track to catch up to those of industrialised countries as policies and institutions in these countries are converging to those of the rich world. In this post, Enevoldsen and Pande contend that this country-level catch-up will not be sufficient to eradicate extreme poverty, as the blessings of this ‘growth’ are not reaching the poor. Inclusive prosperity requires a political solution – redistribution.

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