Category Archives: Income Inequality

Incomes and the Welfare State: Essays on Britain and Europe

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The Reagan Administration oversaw the longest peacetime expansion in American history. The only way to generate savings required for long-term growth is thus to ensure sufficient income for the rich. Because this has, by and large, been risking, worrywarts have fixed upon a more ominous-sounding statistic: the gini coefficient. The choice of the measure of income, along with the measure of the household unit, substantially influences the results of the inequality measure.

The Change in the Distribution of the National Income:

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In fact, the evidence from economic research over the past 15 years is that in developed countries, more inequality tends to go hand in hand with stronger economic growth. The pie chart shows the share of national income going to each quintile in 2010 in Canada. I've been working on this for, oh, between 15 and 20 years. Thus, short-term drops in the income share of the top 5 percent occurred in the recession years of 1949, 1957-58, 1973-74, 1980-81, and 1990.

The Conscience of a Liberal

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Reframing the debate about poverty can help us shift moral attention back where it belongs: to changing conditions that hinder economic mobility and to helping all citizens — especially the poor — improve their lives. For 2003-2007, roughly $39,000 to roughly $44,000. Of the remaining 52 per cent of global wealth, almost all (46 per cent) is owned by the rest of the richest fifth of the world’s population. It isn’t a coincidence that usuary, ie charging interest on loans is condemned in Vedic texts, in both the Old and New Testaments, in Buddhism and Islam.

Distributive Justice: The Right and Wrong of Our Present

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If you are born with special natural talents--which economists call being "endowed" with natural talents--should you get to earn more than someone less well endowed? Savings equal investments, so any tax on savings leads to lower economic growth over time. They are going to be extremely careful; they are going to be staying much more liquid, in much safer assets than they would otherwise be willing to do. However, these studies have been criticized because of their inability to disentangle the effects of individual income (and income poverty) from the contextual effects of income inequality ( 6 ).

Principles of Political Economy: Part the First: Of the Laws

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But the lagging incomes of families that earn less escalate the need for financial aid. And that helps overcome their understandable fear of investing in a company run by nerds who look like (and perhaps are) college students. See Less - absolute advantage, access to services, between-group inequality, cause inequality, counterfactual, cross-country comparisons, data sets, Decomposable Income Inequality ... But as these countries begin to intervene directly or indirectly in trade, the unemployment shifts to the countries with structurally high savings rates – Germany and China, in the current case.

Combating Inequality: The Global North and South

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In countries with more income inequality, the economy more frequently plunged into deeper recessions, while economic growth lasted much longer in more equal societies. If it were true that lower tax rates and more wealth for the wealthy would lead to more job creation, then today we would be drowning in jobs. Reversing this trend presents a significant challenge, but one where we’ve seen some progress. The long alternation in the rate of growth of population can be seen partly as a cause.

The Wealth Gap: Bridging the Eight Gaps to Women’s Wealth

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The paper takes a direct look at the labor force participation rate and tries to understand what is depressing participation for men and women who are in prime working ages of 25 to 54. The ad valorem property tax policy combined with rising prices made it difficult or impossible for low income residents to keep pace. As poverty estimates show, the largest number of the world's poor are now in Africa. And just over half of respondents around the world reported that they had received a salary increase in the past year.

Poverty Amidst Affluence: Britain and the United States

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As I often have said, the super-rich do not care about absolute income. He also notes that when wealthier families see their incomes rise at a faster pace than everyone else, their spending can create what he calls an "expenditure cascade." With respect to exposures, at the individual level, we included age (18–24 (reference), 25–44, 45–64, ≥65 years); sex (male (reference), female); race (White (reference), Black, others); marital status (married/partnered (reference), divorced/separated, widowed, single); education (≥16 (reference), 12–15, 8–11, 1–7 years); covered by health insurance (yes (reference), no); and equivalized household income ($75,000 or more (reference), $50,000–74,999, $30,000–49,999, $15,000–29,999, less than $15,000).

Economics of Social Policy

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Standardised mortality rates per 100 000 for men aged 20–64 years in England and Wales: comparison of years 1970–72 and 1991–93 It is not just infectious diseases that demonstrate the powerful social-epidemiological correlation; it is also psychiatric conditions, which not only occur at higher rates in the poorest areas, but also cluster together, usually in disintegrating inner-city communities. In either case, the scope of the measure is highly relevant.

Jobs with Equality

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Additionally, we have identified that classes with such small numbers of people can vary wildly (percentage-wise) from year to year along a normal distribution, meaning that trends will be difficult to assess. Starr Center Research Report 96-41, November 1996. "Outsourcing of Services and the Productivity Recovery In U. In the words of Yugoslav economist and World Bank’s research head Branko Milanovic, “despite the impression that nothing more substantial can be said on the topic, economists and political philosophers have worked out, within fairly consistent frameworks, the ideas about what the optimal, or a better, distribution of income would be.”