INEQUALITY IN LABOR INCOMES

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INEQUALITY IN LABOR INCOME What are the sources of inequality? The first place we would look for an answer is labor incomes, which account for about 75 percent of factor incomes. Even if property incomes were distributed equally, much inequality would remain. The forces that produce inequalities in earnings are difference in abilities and skills of labor, in intensities of work, […]

Inequality across Countries

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Inequality across Countries Countries show quite different income distributions depending upon their economic and social structure. Figure 19-3 shows th~ inequality of different countries as measured by the Gini coefficient. Market-oriented countries like the United States tend to have the most unequal income distributions among the high-income countries. The welfare states of northern Europe tend to have the least inequality. The sources […]

Distribution of Wealth

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Distribution of Wealth One major source of the inequality of income is inequality of ownership of wealth. which is the net ownership of financial claims and tangible property. Those who are fabulously wealthy-whether because of inheritance, skill, or luck-enjoy incomes far above the amount earned by the average household. Those without wealth begin with an income handicap. In market economies, wealth is […]

How to Measure Inequality among Income Classes

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How to Measure Inequality among Income Classes How can we measure the degree of income inequality? At one pole, if incomes were absolutely equally distributed, there would be no difference between the lowest 20 percent and the highest 20 percent of the population each would’ receive exactly 20 percent of the nation’s income.That what absolute equality means. The reality is far different. The […]

THE DISTRIBUTION OF INCOME AND WEALTH

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THE DISTRIBUTION OF INCOME AND WEALTH Statistics show that in 1998 the median income of American families was $38.885-this means that half of all families received less than this figure while half received more. This number concerns the distribution of income, which shows the variability or dispersion of incomes.’ To understand the income distribution, consider the following experiment: Suppose one person from […]

A. THE SOURCES OF INEQUALITY

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 A. THE SOURCES OF INEQUALITY Statistics show that in 1998 the median income of American families was $38.885-this means that half of all families received less than this figure while half received more. This number concerns the distribution of income, which shows the variability or dispersion of incomes. To understand the income distribution, consider the following experiment Suppose one person from each […]

Efficiency VS Equality The Big Trade-off

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Efficiency VS Equality The Big Trade-off About a century ago. many Western governments began to intervene in the marketplace and introduce a social safety a bulwark against socialist pressures this new conception of society was called the “welfare state.” In the industrial democracies of Europe and North America. today generally finance retirement and health care for the’ aged; provide food. […]

THE COSTS OF REDISTRIBUTION

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One of the goals of a modem mixed economy is to provide a safety net for those who are temporarily permanently unable to provide adequate incomes – for .themselves. One reason for these policies is to promote greater equality. what are the different concepts of equality? To begumth, democratic societies affirm the principle of equality of f generally including the […]

B. ANTIPOVERTY POLICIES

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All ‘societies take steps to provide for their poor citizens.But what is given to the poor must come from other gorps, and that is’ undoubtedly the major Point of resistance to re-distributive programs.In addition economists worry about the impact of redistribution upon the efficiency and morale of a country These issues assume greater importance as resistance to tax increases has […]

Trends in Inequality

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The history of inequality in the United’ States is shown in Figure 19-4 on p. 94. This shows the ratio of the incomes received by the top fifth of families to those received by the bottom fifth. we can see  three distinct periods: falling inequality until World War attainable shares until 1970, then rising inequality over the ‘last two decades. […]