Category Archives: Income Inequality

A Perspective of Wages and Prices (Routledge Revivals)

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The richest Americans haven't claimed this large of a slice of total wealth since 1927, when the group claimed 18.7%. Considering countries with lower levels of income inequality – can you spot anything about those countries selected that might explain why their Gini coefficient is lower than for the UK? Even in cases where an increase in economic inequality makes nobody economically poorer, an increased inequality of resources is disadvantageous, as increased economic inequality can lead to a power shift due to an increased inequality in the ability to participate in democratic processes.

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Rich People Poor Countries: The Rise of Emerging-market

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Third, some of this increase in measured inequality is due to the Tax Reform Act of 1986, which lowered top individual income-tax rates from 50 percent to 28 percent, leading more small businesses to file taxes under individual, rather than corporate, tax schedules (Joint Committee on Taxation, “General Explanation of the Tax Reform Act of 1986” (H. Globalization is also very much in the mix of explanations, though here, too, refinement is necessary. This phenomenon is not to be confused with distribution of wealth which looks at the ownership of assets in an economy, as opposed to the income.

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Inequality, Democracy, and Growth in Brazil: A Country at

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You do not have to be an egalitarian to worry about this trend. Another beneficial property of the GE measure is that it is decomposable; 32 that is, it can be broken down to component parts (i.e. population subgroups). Most Americans hope to find some way to make a living that they enjoy, something that they view as productive. Saying that under certain specifications, pre-transfer inequality in the US is similar to pre-transfer inequality elsewhere does not tell us that we don't need transfers.

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The Rich Get Richer: The Rise of Income Inequality in the

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Other forms of unproductive investment can rise. The extra (marginal) utility is very limited. And how can the positive factors be encouraged, while the latter are reduced? Inequality per se is just a fact of life; the problem is the great insecurity of the mass of people. Source: A look at pay at the top, the bottom, and in between, Spotlight on Statistics, Page 2, U. But politics has also played a major role, exemplified in President Reagan’s breaking of the air traffic controllers’ strike in the US in 1981 or Margaret Thatcher’s battle against the National Union of Mineworkers in the UK.

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Theories of Distributive Justice

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A focus on the income change at the state level compared with the change in the immigrant population — both legal and illegal, reveals that income inequality grew faster in states with high numbers of foreign-born residents, especially where there were high shares of illegal aliens. Moreover, the design of corporate compensation schemes has made it evident that they are not intended to reward effort: typically, they are related to the performance of the stock, which rises and falls depending on many factors outside the control of the CEO, such as market interest rates and the price of oil.

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Worker Well-Being and Public Policy, Volume 22 (Research in

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In New York, a bill guaranteeing a living wage was passed last year, but covers only those workers employed at buildings that received city subsidies and were built since the law was passed—about 400–500 people. The conference participants will offer insights into how current policy choices might shape what is possible and likely in the coming decades of poverty and inequality politics. What Does The Bible Say About Income Inequality? If income was shared equally, and everyone got exactly the same, the Gini would equal 0.

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The Contribution of Industrial Policy to Economic

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In the 1970s the top 1 percent received 8 percent of total income while today they receive 18 percent. I t forces us to examine and evaluate critically the data that are available. to 31 per cent in 1938. apparently due to decimation of large fortunes and property incomes during the war and inflation. whereas the share of the top quintile declines from 55 to 44 per cent. The answer to that is that if you have a job which is paid decently enough so that a documented worker, a citizen or permanent worker, will take it, then you have no incentive to bring in an undocumented immigrant to hold that job.

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The pattern of income inequality in rural China (Asian

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The only practical solution is to let people do the best work they can, and then (either by taxation or by limiting what they can charge) to confiscate whatever you deem to be surplus. Were we unfair in dismissing any of the alternatives as a good measure? It’s important to understand why this analytical approach is useful, so bear with me for a moment while I elaborate. When a state takes on more responsibilities than these, Nozick argues, rights will be violated.

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Capital Theory and the Distribution of Income (Volume 4)

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He lowered labor costs by reducing turnover and the expense of constantly training new hires.” http://www.washingtonpost.com/opinions/how-income-inequality-benefits-everybody/2015/03/25/1122ee02-d255-11e4-a62f-ee745911a4ff_story.html There are many examples of profits that are not normal or contestable, which by definition are unfair. For every cherry-picked arguments suggesting that inequality is somehow lower than measured, you can find another suggesting that it’s higher than measured.

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Ten Millionaires and Ten Million Beggars: A Study of Income

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As the remedies to the crisis became transmuted in many countries into austerity, the divide appeared to be growing larger, leading to popular protest movements such powerless to intervene or to articulate alternatives. Deaton: I'm not entirely sure that's fair. A positive measure is purely statistical whereas a normative measure is “based on an explicit formulation of social welfare and the loss incurred from unequal distribution.” [1] The Gini coefficient measures inequality using values of a frequency distribution.

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