Hypothesized relationship between economic development and inequality level
The Kuznets curve (/ˈkʌznɛts/) expresses a hypothesis advanced by economist Simon Kuznets in the 1950s and 1960s.[3] According to this hypothesis, as an economy develops, market forces first increase and then decrease economic inequality. Although the model is empirically false, the Kuznets curve has appeared to be consistent with experience.[citation needed]