World Income Distribution 2006/2007

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He claims that the Gini Co-efficient does not tell the whole story. Census Bureau, “Income, Poverty, and Health Insurance Coverage in the United States: 2012,” Current Population Reports, P60-236, Washington, D. In addition to the concavity effect just described, researchers have posited an additional contextual effect of income inequality on health ( 6 ). This being the age of the Internet, Hanauer’s “banned” talk didn’t remain banned for long. But it is important to see that the case for equality is powerful in a different way.
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Wealth inequalities and Use of Reproductive and Child Health

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Pharmaceutical companies pushed for Obamacare, which the health care law subsidizes along with insurance companies. Thus James Madison wrote in the most celebrated of the Federalist papers that the “first object of government” is protecting the “different and unequal faculties of acquiring property” which necessarily results in the “possession of different degrees and kinds of property,” or inequality of outcome.32 The liberal critics of income inequality have an argument not just with the facts or with their current political adversaries, but with the authors of the American Constitution itself. 1For a convenient summary of leading articles, see Christopher Caldwell, “Inequality: Fact and Myth,” Forbes MediaCritic, Fall 1995, pp. 45-55. 2Michael Lind, “Why the Rich Get Richer,” New York Times Book Review, Sept. 24, 1995, p. 15. 3Rep.
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Handbook of Income Distribution, Volume 1 (Handbooks in

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The tradeoff is an overly simplistic insight into the implications of redistribution. Leontief took the profession by surprise and stimulated an enormous amount of empirical and theoretical research on the subject. An examination of these data from 1987 through 2012 shows that inequality has not changed. In the developing world income inequality, measured the same way, varies by region: 4:1 in South Asia, 6:1 in East Asia and the Middle East and North Africa, 10:1 in Sub-Saharan Africa, and 12:1 in Latin America.
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The Poverty of the Poverty Rate: Measure and Mismeasure of

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Special provisions providing for favourable taxation of capital gains and dividends not only distort the economy, but, with the vast majority of the benefits going to the very top, increase inequality. And in a series of papers around 1990, Deaton's research demonstrated that, in order to unravel the patterns we see in aggregate data, we must analyze how individuals adapt their own consumption to their individual income. On the other hand, the economy affects you and me, so we need to come to grips with these issues to participate intelligently in the political process.
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The Economics of Poverty, Inequality and Wealth Accumulation

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Between 1979 and 2007, the top 1 percent took home well over half (53.9 percent) of the total increase in U. They also call into question the leading political science accounts of rising inequality taken up in the next section, which also tend to focus on the growing distance between the top and bottom thirds of the population rather than the pulling away of the very affluent. And we may get an EconTalk podcast out of it. S. was much closer to the European level, and some countries — such as France and Italy — actually had higher levels of inequality at that time. (MORE: Who Should Pay More in Taxes? ) Let’s also dispose of a red herring in the inequality debate: taxes.
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Economic Development and Income Distribution

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If there was no income inequality people would have no motivation to work or work hard because everyone would be paid the same. The fact that it is not paid to the Treasury does not mean it doesn’t exist. But since their incomes aren't growing as fast, they have a hard time keeping up, leading to what Frank calls "welfare loss." Second, as the rich get a larger and larger portion of the income, they end up with excess savings, which fuels speculative investment and financial bubbles.
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The Oxford Handbook of Economic Inequality (Oxford

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In general, the government will present a good news story and the opposition a bad news one. So not only does the presence of billionaires in an economy not result in stronger economies as trickle-down economics would suggest, but the type of billionaire actually matters. Here’s another way of looking at the numbers: For the bottom quintile of the city’s households, the median income was $7,386. Moreover, a significant part of the gains for workers has come in the form of an increase in leisure time.
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Who Gets What From Government

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Can this be considered "prosperity"? Do we really want to gear up our national policies to repeat this performance? Galbraith, Created Unequal: The Crisis in American Pay, New York: The Free Press, 1998. It incorporates a sensitivity parameter which allows the researcher to attach a weight to inequality at different points. In particular, the increase in family income and wealth inequality leads to greater dispersion of educational attainment, primarily because those at the bottom of the educational distribution have fallen further below the average level of education.
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Capitalism Unleashed: Finance, Globalization, and Welfare

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But do we want women emulating the egomania of the corporate male? Thus, Americans who already have the largest incomes and who have had the largest gains in earnings since 1970 — college graduates — have fortified their financial advantage over less educated Americans because of their greater tendency to be married. First, inequality leads to weak aggregate demand. The idea that this is all about selfishness, power, and influence leaves open the question of why so many people who are not among the rich and powerful support these policies.
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An Introduction to the Study of Political Economy: Or

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In a relatively equal society, this might not matter very much. An authentic debate might start by asking heretical questions: Why is the United States one of the few advanced economies that suffers from perennial trade deficits? According to Jacobs, the effects on inequality have been considerable. Below the top rungs of the men’s and women’s tours, there is little to no income coming from sponsorships, ticket sales or broadcast rights, Dent said.
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