Abstract:This article describes what happens to income distribution during intensive changes in gross domestic product due to external market conditions. It deals specifically with an open market petroleum‐based economy, Trinidad and Tobago, and reviews changes in national product and income levels and the income distribution pattern over the twenty year period 1957–76.
The paper argues that during the period characterized by subperiods of steady growth and rapid growth in GDP (the latter associated with the petroleum … Show more
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