First, social discontent will arise as a result of the implementation of GST. The GST is renowned for its regressivity, which is attributed to a widening effect on income disparity (Kato, 2003). Income disparity, which can be measured by Gini Coefficient, is an important social issue in modern cities (Callig, 2007). High degree of income gap is a serious socioeconomic problem, which will eventually lead to social discontent as the underprivileged cannot get their deserved treatment in society and
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MUMBAI. MAY 3, 2011 SOCIO-ECONOMIC CLASSIFICATION-2011 The New SEC system THE NEW SEC SYSTEM What is the new SEC system? How do we classify 01 a household in the new SEC system? 02 What are the advantages/ drawbacks of the new SEC system? How was the new SEC system 03 created? What are the 04 other systems that we considered? What is 05 the performance of the new SEC system? 06 07 Conclusion THE NEW SEC SYSTEM 01 What is the new
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it. The movement started on Wall Street but has spread across the US. The basis of the movement focuses on social & economic inequality, greed, corruption and the influence of corporations on the US government, primarily from the financial sectors of businesses. The main slogan of Occupy Wall Street (OWS) is we are the 99%, which addresses the growing income inequality and wealth distribution in the US between the wealthiest 1% and the rest of the population. Huffington Post reporter, Paul Taylor
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Course Date Inequality in China Over the past few years, China’s economy has been booming and, therefore, lifting millions of its citizens above the poverty line. Consequently, China’s GDP has increased, implying widening of the gap between the rich and the poor. According to Aljazeera, in 2010 China recorded a very high Gini coefficient of 0.61 (Duggan, “Income inequality on the rise in China”) The Gini coefficient shows income distribution in a country, and hence inequality levels. This means
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Income Inequality and Economic Well Being Income inequality is prevalent in the entire economic global economy with its effects clearly visible in form of differences in pay scales, distribution per household etc. The economic well-being is not measured in the terms of income alone, but also by other factors such as satisfaction levels, education standards, quality of life etc contribute towards well-being. The causes of the income inequality broadly fall into two categories: the market forces
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by making some contributions on Economics. Inspired by Capital in the Twenty-First Century, I am writing an essay about the distinction of distribution with my classmate. I have witnessed the inequality of income distribution : my mother worked as a contract worker for a company where her monthly income was half as much as a regular employee even if her workload was not less than any of her colleagues’ and the work performance is considerably
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of equality trend? And, Would be relevant to add equity in the development agenda?. This paper offers an analysis of these points and studies them as a strategy for sustainability and continuous growth. Key words: BRICS countries growth; National income distribution; Equity in the development agenda. 1. Introduction BRICS Countries are leading the growth of the economy in the world, and have done so for over 10 years. The International Monetary Fund (IMF) projected that from 2013 to 2017
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Income Inequality In Chapter 20 of microeconomics one of the main points to this chapter is to understand income inequality and what causes income inequality. The three points I think they are very important to understand income inequality is the definition, and two examples of what causes income inequality. Education and training and discrimination are two examples that can give a more visual perspective of what income inequality is. The definition to income inequality according to the McConnell
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GINI Index GINI index measures the extent to which the distribution of income or consumption expenditure among individuals or households within an economy deviates from a perfectly equal distribution. A Lorenz curve plots the cumulative percentages of total income received against the cumulative number of recipients, starting with the poorest individual or household. The GINI index measures the area between the Lorenz curve and a hypothetical line of absolute equality, expressed as a percentage
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problem of income inequality. Numbers of these people live from paycheck to paycheck, barely getting by, not because they manage their money poorly, but because the value of their time at work is negligible (Chapter 2 Economic Inequality). Some may even sacrifice happiness at work to find a job that pays better simply because they cannot make ends meet at their current job. Some people sacrifice their sanity and eventually their life just to keep from going under financially. Segregation in income distribution
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