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Abstract


THE PROBLEM OF NEOLIBERALISM AND INCOME INEQUALITY. IS ISLAMIC MODEL A SOLUTION? (EXAMPLE OF INDIA, ARGENTINA, PAKISTAN)

Although income increases in the world dominated by the neoliberalism, income inequality does not decrease. Income inequality is important to affect human life negatively both economically and socially. Macro and micro solutions are produced for the problem. However, to date no significant results have been achieved. The study aimed to bring a different perspective to the solution of the problem. Within the framework of the Creator-created relationship; Based on the fact that human beings apply God's commands and recommendations, a solution is proposed. First, information was given about the situation in the world about income inequality. Then, the relationship between “Gini Coefficient” and “Economic Growth (GDP) an variables used in the measurement of income distribution of selected countries (India, Argentina and Pakistan) were tested by using Panel Data Method. Empirical analysis covers the period 2000-2019. The findings indicate that there is no relationship between income inequality and economic growth.



Keywords
Neoliberalism, Islamic Model, Income Inequality, Panel Data Method.



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