...“How income inequality benefits everybody” written by George F. Will was published in the Washington Post. Will begins the article by explaining that workers in China manufacture goods for other countries and earn about as much as Americans would spend on a latte each day. The author then explains that this cycle increases American’s disposable income. In the next paragraph, Will mentions that most of the people who were the richest people in the 1980s were no longer the richest people in 2013. He then suggests that the world needs more billionaires like Mark Zuckerburg, Steve Jobs, and Bill Gates. Although these people would be able to charge more money for their products, they charge less because more people will buy their products if they are sold at a lower price and “profits attract imitators and innovators.” In the next section of this article, Will explains that he believes that monopoly profits are a good thing because they show people how...
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...Common sense seem to dictate that there is undeniable division between the upper class compared to middle and lower class. Once upon a time, it was difficult to make a clear distinction between these different classes of people in the society. The article, “Income Inequality: Too big to Ignore” by Robert H. Frank write about how the country continuously uneven income levels have affected Americans. According to Frank “three decades after world war 2, income in the United State rose rapidly at about the same rate for people at all income levels” (1). The point Frank was trying to get at is that, the gap between the higher and lower classes were more even before compare to now. “Income growth is concentrated at the top with about 8.9% in 1976 to 23.5% by 2007 during same period” (Frank 1). The essence of Frank’s argument is that the revenue is going to those who already have more. This is true, because it increase inequality....
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...Socioeconomic inequalities in the Health and Nutrition of Children in Low/Middle Income Countries: Discussion Summary Antonio Taylor Stratford University HCA 505: Global Health Professor Ostrander January 27, 2016 Socioeconomic Inequalities in the Health and Nutrition of Children in Low/Middle income Countries: Discussion Summary Introduction Child malnutrition remains one of the world’s most fundamental challenges for improved human development. Because the time and capacities of caregivers are limited, there are too many children in the world that are unable to access and effectively use at all times the food and healthcare services they need for a healthy life. Hundreds of millions of children in less developed countries suffer from poor health can nutrition. Children in most less developed countries also complete far few years of schooling, and learn less per year in schooling, than their counterparts in developed countries. Recent research has shown that poor health and nutrition among children reduces their time in school and their learning during that time. Background There is a long standing tradition of research on socio-economic health inequalities in contemporary high income countries. Early studies in the socioeconomic inequalities were often done by physicians engaged in social movements, who focused on the influence of living conditions on health. Attention for socio-economic health inequalities have been changing since the 19th century. At...
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...Economy of Inequality Drivers of Inequality: socio-economic mechanisms Admin • Major Essay Guidelines in UoS pages 5-6 due Monday May 11th 40% of your total mark for ecop 2616 Submit on time. 2000 words maximum. Penalty for longer essays Prepare carefully What is required? • Critical review of the content of the book, not the author! • Locate the ‘field data’ (your book) within the conceptual, historical and empirical material covered in the course material. • Book summaries receive zero marks. Intro: (1) Short précis of the book. ‘This book covers….” (2) outline the specific issues/concerns that your essay will address; (3) identify the theoretical, conceptual, historical or empirical frameworks covered in the course material that you will use to interpret and critically evaluate the dynamics of inequality highlighted in your book. Body: • a coherent and well organised discussion of the issues you have elected to focus on. • Your argument must be substantiated in a proper academic manner. Use sub-headings if they help organise your ideas. Conclusion: • summary of your argument and any outstanding issues. Where are we up to? • Weeks 1-3: theoretical questions • Weeks 5-7: historical and contemporary patterns of distribution • Weeks 8-11: causal mechanisms • Weeks 12-13: alternatives and conclusion. The cumulative character of inequality • Consequences of inequality often become causes of inequality. - eg labour...
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...Abstract Research has shown that economic inequality can adversely affect us as an individual and society. Economic inequality does and can affect an organizations performance through employee development which will affect its individual employees and their interactions at work. I will provide an overview of the relationship between economic inequality and management. Introduction Inequalities have been on the rise and on the public’s mind since the Occupy Wall Street (OWS) protests which have been noted by many government agencies (i.e. Congressional Budget Office, 2011), international economic organizations (i.e. Organization for Economic Co-operation and Development [OECD], 2011) and researchers (Piketty, 2014). Inequality debates still capture headlines and continue to stir debates, for example, Oxfam’s assertion that the 85 richest people in the world hold as much wealth as the poorest half of the world, but also occupied a central stage in the discussions at the annual meeting of World Economic Forum (Oxfam, 2015). This has been researched and studied for years. The earliest article accessible through Web of Science was published in 1930 and discussed the effect of rural migration on urban–rural economic inequality (Rutledge, 1930). Since 1930, research has been done in a range of to examine the relationships between economic inequality and socioeconomics, including economic growth (Kuznets, 1955), public health (Marmot et al., 1991), socio-political instability (Alesina...
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...Introduction International Business Involves Us All Technology Makes It Happen The Global Relay Race Globalization Globalization of Markets Reduces Marketing Costs Creates New Market Opportunities Levels Uneven Income Streams Yet Local Needs Are Important Globalization of Production Access Lower-Cost Workers Access Technical Expertise Access Production Inputs Forces Driving Globalization Falling Barriers to Trade and Investment World Trade Organization Regional Trade Agreements Trade Agreements and Trade Growth Technological Innovation E-mail and Videoconferencing Internet and World Wide Web Company Intranets and Extranets Advancements in Transportation Technologies Measuring Globalization Untangling the Globalization Debate Today’s Globalization in Context The Current Globalization Backlash Leaving the Anarchists Behind Before We Go On Globalization’s Impact on Jobs and Wages Globalization Costs Jobs and Lowers Wages Eliminates Jobs in Developed Nations Forces Wages Lower in Developed Countries Exploits Workers in Developing Nations Globalization Creates Jobs and Boosts Wages Increases Wealth and Efficiency Generates Labor Market Flexibility Creates Jobs in Developed Nations Advances Developing Nations’ Economies Summary of The Jobs and Wages Debate Globalization’s Impact on Labor and Environmental Regulation Labor Standards Environmental Protection Developing Future...
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...Discussion Question: How do you accurately account for economic inequality in order to better assess living standards across and within countries? Discuss the factors affecting economic inequality and the implications on a local and global scale. Before even getting into the debate of assessing living standards, inequality and its measurement, let us first define income and consumption and how these measures are used to assess living standards in mainstream economics. According to Folbre, income encompasses all resource inflows to the household while resource outflows make up for the consumption variable (Folbre, 2009). In today’s world, living standards are assessed by looking at either of the two measures; however, most people agree that looking at living standards from the consumption angle gives us a better, more accurate feel for disparities. That being said, we recognize that these two measures do not provide a full picture: we look at resource inflows and outflows to and from households; however, we do not take into account what actually happens within the household. In recent years, more and more economists have shifted their attention to those non-market factors that directly impact standard of living among the population. In the following paragraphs, we will first examine how economic inequality is currently measured and the limitations underlying those methods. We will then elaborate on the additional parameters (household production and leisure) and their importance...
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...2. MEASURING CO-MOVEMENTS OF INCOME IN BRAZIL AND THE ROLE OF MACROECONOMICS In this paper we investigate the dynamics of income inequality among Brazilian states by applying the Bayesian Dynamic Factor Model described in (OTROK; WHITEMAN, 1998) and (KOSE; OTROK; WHITEMAN, 2003) to Gini indexes over the 1976-2014 period. Our results indicate that the common factor accounts for 48 percent of the Gini index co-movements; the richest states are more exposed. We found that macroeconomic stability is negatively correlated to the common factor, meaning that stability is inequality-decreasing. The deciles analysis suggests that inequality is related to lack of business cycles synchronization. Keywords: business cycles; bayesian analysis; income inequality...
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...1.0 INTRODUCTION In this summary, I choose five articles regarding on the same topic which is Islamic economy. Generally, the articles focused on Islamic Macroeconomics issues, the poverty problems regarding on inequality income and the power of zakat in order to alleviate the poverty. All the articles are done from year 2006 until 2010. This summary consists of 4 sections which is introduction, articles summary, criticize of the article summary and conclusion. The summary regarding Islamic macroeconomics will be explained in the next section. 2.0 ARTICLE SUMMARY 2.1 ISLAMIC MACROECONOMICS This subtopic is very important to understand deeply about the overview of the Islamic Macroeconomics. According to Choudury (2006), the paper aims to offer a new perspective on the nature of Islamic economics and the researcher wants to address the issue of the mainstream tradition without noticing the micro-interface of the theoretical nature of Islamic economics. Besides, the author wants to examine the nature of Islamic economics as an interdisciplinary paradigm that explains interaction over the domains of the moral guidance which is ‘Ilm, laws and the formative world-systems according to such discursive impulses and process (Shuratic). The author had focused his study on systemic unity of knowledge, meaning of ethics and morality are derived from the epistemological premise of unity of knowledge. The researcher had used the method of comparative study of received literature in the...
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...toward stability, harmony, or equilibrium, in other words toward balance. Society is seen as a self-regulating system and all of the constituent elements of a society must contribute to maintaining this state of harmony. d. Overall, the assumption of functionalism is that all social structures contribute to the maintenance of the system and the existence of any given structure is explained by means of its consequences (functions) which must, by definition be beneficial to the maintenance of stable order. 2. Functionalism on stratification: the Davis-Moore thesis: a. With particular respect to the issue of social stratification or social inequality, the functionalist view argues that social inequality is necessary because it fulfills vital system needs. b. One such functionalist view of social inequality was developed by Kinsley Davis and Wilbert Moore and has come to be known as the “Davis-Moore Thesis.” This functionalist theory of stratification was first discussed by the authors in 1945 in the article, “Some Principles of Stratification” which appeared in the American Sociological Review and was later extended and refined in Davis’s book Human Society (1948). c. Davis...
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...HUMAN DEVELOPMENT INDEX (HDI) What is the human development index (HDI)? The HDI—human development index—is a summary composite index that measures a country's average achievements in three basic aspects of human development: longevity, knowledge, and a decent standard of living. Longevity is measured by life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrolment ratio; and standard of living by GDP per capita (PPP US$). For details on how to calculate the HDI, see pages 340–1 Technical Note 1. What is the gender-related development index (GDI)? The GDI—gender-related development index—is a composite indicator that measures the average achievement of a population in the same dimensions as the HDI while adjusting for gender inequalities in the level of achievement in the three basic aspects of human development. It uses the same variables as the HDI, disaggregated by gender. For details on how to calculate the GDI see pages 340, 343-344 and 346 Technical Note 1. What is the gender empowerment measure (GEM)? The GEM— gender empowerment measure—is a composite indicator that captures gender inequality in three key areas: • political participation and decision-making, as measured by women’s and men’s percentage shares of parliamentary seats; • economic participation and decision-making power, as measured by two indicators—women’s and men’s percentage shares of positions as legislators...
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...i a l Tr e n d s September 2012 Income Inequality in Canada: How does Manitoba compare? Can we do better? The Canadian Centre for Policy Alternatives has been documenting the rise in inequality in Canada since 2006. More recently, the Conference Board of Canada and the OECD have confirmed this trend. These organizations also report that inequality in Canada is now increasing faster than is the case in many other countries. In their highly acclaimed 2009 book The Spirit Level: Why More Equal Societies Almost Always Do Better, Wilkinson and Pickett showed the impact of inequality on a variety of measures such as levels of crime, teenage pregnancies, life expectancy and educational achievement (to name a few). The study concluded that countries that are most equal do best. If Canada wants to measure up to more equal countries, the growing gap between rich and poor will need to be addressed. The federal government has the most important role to play in redressing the imbalance. CCPA and others have suggested how poverty and inequality can be tackled through improved policies and programs, and better redistribution of wealth through taxes and transfers at the federal level. But provincial governments also have a responsibility. A recent study in Ontario shows that province to be the most unequal. Our analysis looks at the trend in inequality across Canada with a focus on measuring progress in Manitoba for individuals earning market incomes. As do the authors of the Ontario study...
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...any arbitrary police-initiated action based on race, ethnicity, or natural origin rather than a person’s behavior Racism The belief that all members of each race possess characteristics or abilities specific to that race Reverse discrimination actions that cause better-qualified White men to be passed over for women and minority men Part II Complete the following using the MySocLab Social Explorer Map: Income Inequality by Race located on your student website: · Select 1 racial group from the list below: o African American o Asian American o Arab American o Hispanic American/Latino o White/Caucasian · Write a 250- to 350-word summary of the economic, social, and political standings of that group. Use additional resources if necessary, from the University Library or your textbooks. Even though all Americans have experiences hardship since the economic slowdown, African Americans have suffered greatly from this situation. The average income of African Americans has declined by 1.3 percent since 2000. Along with the decrease in income, the unemployment rate of African Americans has increased. African Americans also have higher rates of poverty and slower growing rates of employment than other minority groups. The political standing of African Americans is very interesting. This minority group tends to support the Democratic Party and its candidates. African Americans have held various political positions for the past 50 years. More recently, the...
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...Matthew Andre ENC1101 Professor Neuman December 8, 2011 The Problem Even Congress Cannot Fix: Inequality in America The big story that has been all over the news in recent times is none other than the massive bear of a problem: inequality in America. This not so white elephant has dominated American news stations, but nonetheless has not been resolved. There is without a doubt financial inequality in America, and the main problems with this financial inequality are the flawed educational system where rich dumb kids have a much better chance to graduate college than a hard working poor kid, and the increasingly large gap between the rich and the poor. The cause for the problem of unequal opportunity in schooling is inherently the quality of instructors and schools across the nation, and the cause for the overwhelming rift between social classes is a flawed tax system which punishes success and benefits the poor. Furthermore, the solutions for these two massive problems would be to reform the American educational system to a performance based system and a reformed tax system that broadens the tax base and encourages success. Certainly, the level of financial inequality is an issue. But, why is it such an issue? One of the major underlying problems with financial inequality is the face that rich dumb kids that maybe be in the bottom twenty-five percent of their school but come from families that are in the top twenty-five percent of the socio-economic spectrum have a significantly...
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...pointers of development, recourse will be made to a number of authorities, such as books written by renown authors and or any other valid sources to support the argument. The essay will be concluded by making a summary of the whole essay and suggest possible way in which the government may deliver or even improve on the delivery of development to its people. Before proceeding to look at the extent of development in Zambia under the current government, it is important first to understand what “development” is according to Dudley Seers. According to Seers, (1969:5), to consider whether development has taken place in a particular country; you need to ask what has been happening to poverty, unemployment and inequality. He further states that, “If all the three of these have declined from high levels, then beyond doubt this has been a period of development for the country concerned. However, if one or two of these central problems have been growing worse, especially if all the three, it would be strange to call the result ‘development’ even if per capita income had doubled” ibid. Hence, the truth can be deduced from the aforementioned that ‘development’ according to Seers, is the fulfilment of human potential of through a reduction in poverty, unemployment and in inequality (opcit). Apart from this understanding of development, many other writers have defined development in their own understanding. One other definition is that of Todaro & Smith in the book entitled “Economic...
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