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Reassessing Economics: From Inequality to Inclusivity
This chapter explores the evolution of economic thought on income inequality since the 1970s, focusing on the implications of policies like the $15 minimum wage. It critiques the neoliberal frameworks that have historically influenced economic theory and policy, highlighting the disconnect between theoretical research and its practical application. Additionally, the discussion emphasizes the need for a more inclusive economics profession and the transformative role of diverse perspectives in shaping effective societal decisions.