This document discusses measuring inequality and redistribution across advanced economies. It begins by explaining how inequality is typically measured using the Gini coefficient, with higher scores indicating higher inequality. Graphs show Gini coefficient scores for OECD countries in the mid-2000s, with the US and UK having among the highest inequality and Scandinavian countries the lowest. The document then discusses other measures of inequality within and between different income groups. It examines factors that influence inequality levels between countries like the strength of labor organizations, economic openness, and welfare institutions and traditions.
The document discusses the economic environment and dimensions that influence business in Nepal. It outlines key components of Nepal's economic structure, including GDP, GDP per capita, economic policies, inflation rates, and levels of employment. It also examines Nepal's socioeconomic indicators such as population size, density, age distribution, labor force composition, and employment trends. The 14th economic development plan aims to transform agriculture and tourism and expand infrastructure to reach middle income status and a more prosperous, socially just nation.
This document discusses the drivers of inequality and presents both orthodox and emerging views. The orthodox view is that rising inequality is inevitable due to technological change and globalization, but this view is inadequate. The emerging view is that inequality results from growing economic power asymmetries, weakened labor protections, tax changes benefiting the wealthy, the outsized influence of the financial sector, privatization, and macroeconomic policies favoring stability over full employment. The document argues that policy interventions can help reduce inequality by strengthening collective bargaining, reforming banks, raising taxes on the wealthy, focusing economic development on stable jobs, and adopting macroeconomic policies promoting both stability and full employment.
Lurking in the Shadows: The informal sector and government policy Dr Lendy Spires
This paper develops a dynamic model to analyze how government tax policies influence the size of the informal sector in an economy. The model shows that the informal sector naturally declines as an economy grows and transitions towards steady state. Simulation results find that reducing tax rates is the best policy for decreasing the size of the informal sector while also increasing overall output and standards of living. Increasing enforcement alone has a minimal effect, but raising penalties along with enforcement can also reduce informal sector size. The existence of an informal sector slightly reduces steady state capital and output, but actually increases steady state utility levels by allowing for higher consumption.
BlackRock Strategic Management in China Jake Donahue
BlackRock is considering investing in China as an emerging market opportunity. China is transitioning from a manufacturing to consumer-driven economy over 30 years, much faster than the US' 100-year transition. Risks include China's slowing GDP growth, high debt levels, lack of transparency, and socioeconomic inequality. If BlackRock invests, it should only do so in alignment with Chinese government priorities in strategic industries and assume both known and unknown risks will materialize.
- Between 65-70% of households in 25 advanced economies, or around 540-580 million people, had market incomes in 2014 that were flat or lower than in 2005. This is a significant increase compared to less than 2% of households between 1993-2005.
- Younger, less educated workers have been hit hardest, with most age and education segments experiencing flat or falling incomes from 2002-2012. Today's youth may end up poorer than their parents.
- Government policies and labor market practices influenced the impact, but factors like slowing GDP growth after the recession, declining wage share, aging populations, and smaller households also contributed to widespread flat or falling incomes.
Governments use taxes to raise revenue and redistribute income through spending on public goods and services. The degree of redistribution depends on the type and progressivity of taxes. Progressive taxes place a higher burden on higher incomes, making them redistributive. Regressive taxes like indirect taxes place a higher burden on lower incomes. There are differing views on the appropriate role of taxes. Supply-side views favor lower taxes to incentivize work and investment, while demand-side views see taxes as a tool to manage the economy and achieve fairness.
The document discusses the informal and underground economy. It defines the underground economy as productive activities that are not recorded in official national income statistics but should be included. It notes three major concerns about the underground economy: biased economic evaluations, lost tax revenue, and an unhealthy relationship between citizens and government. It then discusses various approaches to measuring the size and growth of the underground economy, including direct surveys and audits, indirect discrepancy methods, and economic modeling. Estimates suggest underground economies range from 10-30% of GDP across countries. Most countries saw significant increases in their underground economies from 1960-1995. The underground economy can potentially have both positive and negative effects on the official economy.
Economic growth is defined as increasing production to meet societal needs and wants. It is commonly measured by GDP (Gross Domestic Product), which is the total value of goods and services produced within a country in a given year. GDP growth rates of 3-5% per year are typically desired. However, GDP has limitations as it only counts what is produced and sold, excluding other important factors like environmental impacts, non-market activities, and personal well-being. Alternative measures have been developed to provide a more comprehensive view of economic success and quality of life.
The document discusses the economic environment and dimensions that influence business in Nepal. It outlines key components of Nepal's economic structure, including GDP, GDP per capita, economic policies, inflation rates, and levels of employment. It also examines Nepal's socioeconomic indicators such as population size, density, age distribution, labor force composition, and employment trends. The 14th economic development plan aims to transform agriculture and tourism and expand infrastructure to reach middle income status and a more prosperous, socially just nation.
This document discusses the drivers of inequality and presents both orthodox and emerging views. The orthodox view is that rising inequality is inevitable due to technological change and globalization, but this view is inadequate. The emerging view is that inequality results from growing economic power asymmetries, weakened labor protections, tax changes benefiting the wealthy, the outsized influence of the financial sector, privatization, and macroeconomic policies favoring stability over full employment. The document argues that policy interventions can help reduce inequality by strengthening collective bargaining, reforming banks, raising taxes on the wealthy, focusing economic development on stable jobs, and adopting macroeconomic policies promoting both stability and full employment.
Lurking in the Shadows: The informal sector and government policy Dr Lendy Spires
This paper develops a dynamic model to analyze how government tax policies influence the size of the informal sector in an economy. The model shows that the informal sector naturally declines as an economy grows and transitions towards steady state. Simulation results find that reducing tax rates is the best policy for decreasing the size of the informal sector while also increasing overall output and standards of living. Increasing enforcement alone has a minimal effect, but raising penalties along with enforcement can also reduce informal sector size. The existence of an informal sector slightly reduces steady state capital and output, but actually increases steady state utility levels by allowing for higher consumption.
BlackRock Strategic Management in China Jake Donahue
BlackRock is considering investing in China as an emerging market opportunity. China is transitioning from a manufacturing to consumer-driven economy over 30 years, much faster than the US' 100-year transition. Risks include China's slowing GDP growth, high debt levels, lack of transparency, and socioeconomic inequality. If BlackRock invests, it should only do so in alignment with Chinese government priorities in strategic industries and assume both known and unknown risks will materialize.
- Between 65-70% of households in 25 advanced economies, or around 540-580 million people, had market incomes in 2014 that were flat or lower than in 2005. This is a significant increase compared to less than 2% of households between 1993-2005.
- Younger, less educated workers have been hit hardest, with most age and education segments experiencing flat or falling incomes from 2002-2012. Today's youth may end up poorer than their parents.
- Government policies and labor market practices influenced the impact, but factors like slowing GDP growth after the recession, declining wage share, aging populations, and smaller households also contributed to widespread flat or falling incomes.
Governments use taxes to raise revenue and redistribute income through spending on public goods and services. The degree of redistribution depends on the type and progressivity of taxes. Progressive taxes place a higher burden on higher incomes, making them redistributive. Regressive taxes like indirect taxes place a higher burden on lower incomes. There are differing views on the appropriate role of taxes. Supply-side views favor lower taxes to incentivize work and investment, while demand-side views see taxes as a tool to manage the economy and achieve fairness.
The document discusses the informal and underground economy. It defines the underground economy as productive activities that are not recorded in official national income statistics but should be included. It notes three major concerns about the underground economy: biased economic evaluations, lost tax revenue, and an unhealthy relationship between citizens and government. It then discusses various approaches to measuring the size and growth of the underground economy, including direct surveys and audits, indirect discrepancy methods, and economic modeling. Estimates suggest underground economies range from 10-30% of GDP across countries. Most countries saw significant increases in their underground economies from 1960-1995. The underground economy can potentially have both positive and negative effects on the official economy.
Economic growth is defined as increasing production to meet societal needs and wants. It is commonly measured by GDP (Gross Domestic Product), which is the total value of goods and services produced within a country in a given year. GDP growth rates of 3-5% per year are typically desired. However, GDP has limitations as it only counts what is produced and sold, excluding other important factors like environmental impacts, non-market activities, and personal well-being. Alternative measures have been developed to provide a more comprehensive view of economic success and quality of life.
China has experienced rapid economic growth over the past 30 years, becoming the world's second largest economy. It is also the largest exporter and second largest importer globally. While China and India are often compared, there are important differences in their economic systems and growth drivers. China's growth has been led by large state-owned companies, while India's private sector has played a bigger role. China maintains more state control over its financial system and can direct credit, while India's system is more market-driven. Both countries still have work to do to address issues around development, inequality, environmental protection, and an aging population as they continue growing in the decades ahead.
This study examines wealth inequality across countries by analyzing the relationship between a country's Gini index value and various macroeconomic and socioeconomic factors. The Gini index measures the unequal distribution of wealth within a country on a scale of 0 to 100. The study finds that inflation, GDP growth, GDP per capita, trade as a percentage of GDP, tax payments, and internet usage are significantly correlated with Gini index values. A log-transformed regression model using these explanatory variables has high statistical significance and explains Gini index values well based on an R-squared value near 1.
This document discusses macroeconomic concepts including GDP, business cycles, economic growth, and technological progress. It explains that GDP measures the value of final goods and services produced, and economists use GDP and real GDP per capita to analyze economic performance and standards of living. The business cycle consists of expansion, peak, contraction and trough phases influenced by investment, interest rates, expectations and external shocks. Economic growth results from capital deepening, savings, population changes, government policies, and technological advances driven by factors like research, innovation, and education.
AS Macro: Introduction to Economic Developmenttutor2u
This document provides an introduction to economic development. It defines economic development as improving human freedoms and reducing poverty, inequality, and unemployment. The key goals of economic development are outlined in the Millennium Development Goals and are measured by indicators such as the Human Development Index which considers education, life expectancy, and income. However, the HDI has limitations as it does not account for other important factors like political freedoms, income distribution, or qualitative changes over time. Common characteristics of lower income countries are also presented such as lower productivity and incomes as well as higher inequality, which can lead to social and economic costs if left unaddressed.
This document provides an introduction to a dissertation that examines the relationship between trade liberalization, government debt, human capital, and income inequality using panel data econometrics. It aims to understand the determinants of global income inequality and account for rising inequality in developed countries. The analysis uses the consistent EHII index to measure household income inequality across 136 countries from 1968-2008. Static and dynamic panel techniques are employed to explore how macroeconomic variables like human capital, trade openness, government debt, inflation, and growth impact inequality. It also considers whether effects differ between developed and developing countries. The results seek to inform policy to reduce inequality and its associated social and economic issues.
This document discusses fiscal policy in the United States in the context of rising inequality. It makes three key points:
1) Inequality in the US is high and growing, with the top 1% gaining significantly more income than the rest. Government can and should do more to promote equality of opportunity through public investment and insurance programs.
2) Public investment, such as in infrastructure and education, provides jobs and yields high economic returns that complement private sector growth. However, the US underinvests in these areas.
3) The US tax base is inadequate given spending needs. Moderate tax increases coupled with more progressive public spending could help address inequality without steep rate increases. Overall fiscal policy should consider both spending and
This document discusses income distribution and inequality. It begins by explaining how inequality is measured using Lorenz curves and the Gini coefficient. It then analyzes how income distribution changes with economic development, initially following an inverted U pattern as described by Kuznets. Several models are discussed that attempt to explain this pattern. The document also examines the impact of income distribution on economic growth, finding that high inequality can negatively impact growth by increasing political instability. Finally, it provides case studies of the income distribution and economic policies of Taiwan and Brazil over time.
Unemployment is caused by factors like being between jobs, industries shutting down, skills not matching available jobs, and economic downturns. There are four main types of unemployment: frictional, seasonal, structural, and cyclical. Structural unemployment occurs when workers' skills do not match job requirements, which can be due to technological changes, resource discoveries, consumer demand shifts, globalization, or lack of education. The government tracks unemployment statistics through surveys.
Inflation is a general increase in prices caused by factors like increased money supply, changes in demand or supply. It is measured using price indexes like the Consumer Price Index. High inflation erodes purchasing power and can harm those on fixed incomes.
P
This document summarizes two theoretical perspectives - classical political economy and neoclassical marginalism - and how they provide conflicting explanations for accounting information like profit figures. It then describes an empirical case study of a UK mining company in Africa over 46 years divided into three periods. Income statements for each period show changing distributions of income that correlate with changing social and political conditions, supporting the classical view that accounting numbers reflect power relations rather than marginal productivity. The document argues this challenges the marginalist foundations of much accounting theory.
Prepared for the Chicago Federal Executive Board, this presentation assesses the nation's progress over the last 50 years and suggests a new framework for winning the "War on Poverty." Finding that welfare programs have significantly reduced absolute poverty but are inadequate to combat rapidly growing relative poverty, the presentation proposes a new market-based approach that leverages, rather than supplants, next economy markets to bring under-invested people and places back into the economic mainstream. The presentation concludes with principles for designing the federal government's role in this new effort.
The indicators of indian economy ppt @ mba 2009Babasab Patil
The document discusses various leading economic indicators of the Indian economy such as GDP growth trends, inflation rates, interest rates, credit levels, exports, imports, foreign investment, stock market performance, monsoon rainfall, and development indicators. Leading indicators can provide useful insights into the future direction of the economy by signaling turning points in business cycles ahead of changes in broader economic conditions. Monitoring a basket of leading indicators allows for more accurate forecasting of the overall performance of the Indian economy.
The document discusses trends in the US labor market and organized labor. It describes how economic trends affect employment rates, outsourcing, demographics, and wages. The labor force is defined as people aged 16 or older who are employed or unemployed. The Bureau of Labor Statistics tracks employment, unemployment, and labor force trends monthly. Wages vary based on supply and demand for different skill levels. While laws prohibit discrimination, women and minorities often still earn less. Labor unions arose to advocate for workers' rights and negotiate contracts through collective bargaining, though union membership has declined.
This document summarizes the structural economic issues facing the Philippine economy and society, including rising inequality, unemployment, deindustrialization, and the impacts of neoliberal policies like trade liberalization. It discusses how these factors have contributed to the rise of political dynasties and "economic warlordism" in impoverished areas. The government's response to recent economic and climate crises is described as inadequate. Alternatives proposed include integrating domestic industries, implementing a high-wage labor regime, and recognizing climate debt owed by wealthy nations.
Session 4 Youth Unemployment China Presentationwbeap
The document summarizes challenges around youth unemployment in China and proposes a 4E strategy to address it: Employment Creation, Entrepreneurship, Employability, and Equal Opportunity. It outlines specific government programs and policies to promote each element of the strategy. Priority groups are college graduates and rural migrant youth. The All-China Youth Federation plays a key role in coordinating efforts through its large network across China. Future plans include advocating for a national youth employment policy and expanding programs to promote entrepreneurship and international cooperation.
AEC, KI a INESS v spolupráci s ďalšími partnermi organizovali medzinárodnú
konferenciu v rámci Free Market Road Show 2013 na tému Šetriť alebo
nešetriť: Zachránia Európu len úsporné opatrenia?, ktorá sa konala dňa 7.
júna 2013 v Bratislave. Ďalšie súvisiace informácie nájdete na
www.konzervativizmus.sk
AEC, in cooperation with the Conservative Institute and INESS, and in
association with international partners organized the Free Market Road
Show 2013 in Bratislava on June 7, 2013. More information at
www.institute.sk.
The document discusses China's economic development and unemployment rate. It notes that China experienced rapid economic growth after economic reforms in 1978. China joined the WTO in 2001 and became the world's factory due to its large labor force and resources. In 2009, China surpassed Japan to become the second largest economy in the world. However, inflation increased to its highest level from 2009 to 2011 despite government efforts. While China has high GDP growth, its average worker income remains below international standards, and economic development has not always benefited workers.
This document discusses the demographic trends in India and their implications. It notes that India's population has grown significantly from 350 million at independence to over 1 billion currently. It is projected to reach 1.25 billion in the next 4 years. This will result in a large young working population that can boost economic growth if proper conditions are created. However, it may also strain urban infrastructure and amenities unless cities are developed adequately. Overall, the rising population underscores the need for increased investment in education, healthcare, job creation and urban development to harness the demographic dividend for India's progress.
AEC, KI a INESS v spolupráci s ďalšími partnermi organizovali medzinárodnú
konferenciu v rámci Free Market Road Show 2013 na tému Šetriť alebo
nešetriť: Zachránia Európu len úsporné opatrenia?, ktorá sa konala dňa 7.
júna 2013 v Bratislave. Ďalšie súvisiace informácie nájdete na
www.konzervativizmus.sk
AEC, in cooperation with the Conservative Institute and INESS, and in
association with international partners organized the Free Market Road
Show 2013 in Bratislava on June 7, 2013. More information at
www.institute.sk.
East Asia experienced extensive economic growth in the second half of the 20th century while Latin America saw stagnated growth and decline. This was largely due to differences in total factor productivity. Latin America adopted import substitution industrialization which led to inefficient state-owned enterprises, high inflation, and vulnerability to external shocks. In contrast, East Asian countries limited government intervention and inflation while promoting exports, education, savings, and sustainable growth through balanced budgets and market policies. As a result, East Asia saw investment exceed 20% of GDP annually and rapid growth, while Latin America suffered from low productivity following economic shocks.
The document discusses how governments redistribute income through social programs and progressive taxation. Governments intervene in markets to create a safety net and alleviate poverty by redistributing income directly through social programs or indirectly through progressive tax rates that impose higher tax burdens on higher incomes. Regressive taxes like sales taxes take a higher percentage from lower incomes since they spend a greater portion of income on taxable items compared to higher incomes that save and invest more.
Session 6 c wolfson corscadden iariw session 6IARIW 2014
This study examines the redistributive impact of Canada's publicly funded healthcare system both across income groups and over individuals' lifetimes. The authors construct a synthetic population to estimate lifetime healthcare costs and tax payments for different income deciles while accounting for varying mortality rates. Their findings suggest that publicly funded healthcare redistributes roughly one-third of costs over individuals' lifecycles through differing healthcare needs at different ages, and two-thirds between income deciles through higher spending on lower-income groups. Discounting lifetime costs and taxes does not substantially change these proportions.
China has experienced rapid economic growth over the past 30 years, becoming the world's second largest economy. It is also the largest exporter and second largest importer globally. While China and India are often compared, there are important differences in their economic systems and growth drivers. China's growth has been led by large state-owned companies, while India's private sector has played a bigger role. China maintains more state control over its financial system and can direct credit, while India's system is more market-driven. Both countries still have work to do to address issues around development, inequality, environmental protection, and an aging population as they continue growing in the decades ahead.
This study examines wealth inequality across countries by analyzing the relationship between a country's Gini index value and various macroeconomic and socioeconomic factors. The Gini index measures the unequal distribution of wealth within a country on a scale of 0 to 100. The study finds that inflation, GDP growth, GDP per capita, trade as a percentage of GDP, tax payments, and internet usage are significantly correlated with Gini index values. A log-transformed regression model using these explanatory variables has high statistical significance and explains Gini index values well based on an R-squared value near 1.
This document discusses macroeconomic concepts including GDP, business cycles, economic growth, and technological progress. It explains that GDP measures the value of final goods and services produced, and economists use GDP and real GDP per capita to analyze economic performance and standards of living. The business cycle consists of expansion, peak, contraction and trough phases influenced by investment, interest rates, expectations and external shocks. Economic growth results from capital deepening, savings, population changes, government policies, and technological advances driven by factors like research, innovation, and education.
AS Macro: Introduction to Economic Developmenttutor2u
This document provides an introduction to economic development. It defines economic development as improving human freedoms and reducing poverty, inequality, and unemployment. The key goals of economic development are outlined in the Millennium Development Goals and are measured by indicators such as the Human Development Index which considers education, life expectancy, and income. However, the HDI has limitations as it does not account for other important factors like political freedoms, income distribution, or qualitative changes over time. Common characteristics of lower income countries are also presented such as lower productivity and incomes as well as higher inequality, which can lead to social and economic costs if left unaddressed.
This document provides an introduction to a dissertation that examines the relationship between trade liberalization, government debt, human capital, and income inequality using panel data econometrics. It aims to understand the determinants of global income inequality and account for rising inequality in developed countries. The analysis uses the consistent EHII index to measure household income inequality across 136 countries from 1968-2008. Static and dynamic panel techniques are employed to explore how macroeconomic variables like human capital, trade openness, government debt, inflation, and growth impact inequality. It also considers whether effects differ between developed and developing countries. The results seek to inform policy to reduce inequality and its associated social and economic issues.
This document discusses fiscal policy in the United States in the context of rising inequality. It makes three key points:
1) Inequality in the US is high and growing, with the top 1% gaining significantly more income than the rest. Government can and should do more to promote equality of opportunity through public investment and insurance programs.
2) Public investment, such as in infrastructure and education, provides jobs and yields high economic returns that complement private sector growth. However, the US underinvests in these areas.
3) The US tax base is inadequate given spending needs. Moderate tax increases coupled with more progressive public spending could help address inequality without steep rate increases. Overall fiscal policy should consider both spending and
This document discusses income distribution and inequality. It begins by explaining how inequality is measured using Lorenz curves and the Gini coefficient. It then analyzes how income distribution changes with economic development, initially following an inverted U pattern as described by Kuznets. Several models are discussed that attempt to explain this pattern. The document also examines the impact of income distribution on economic growth, finding that high inequality can negatively impact growth by increasing political instability. Finally, it provides case studies of the income distribution and economic policies of Taiwan and Brazil over time.
Unemployment is caused by factors like being between jobs, industries shutting down, skills not matching available jobs, and economic downturns. There are four main types of unemployment: frictional, seasonal, structural, and cyclical. Structural unemployment occurs when workers' skills do not match job requirements, which can be due to technological changes, resource discoveries, consumer demand shifts, globalization, or lack of education. The government tracks unemployment statistics through surveys.
Inflation is a general increase in prices caused by factors like increased money supply, changes in demand or supply. It is measured using price indexes like the Consumer Price Index. High inflation erodes purchasing power and can harm those on fixed incomes.
P
This document summarizes two theoretical perspectives - classical political economy and neoclassical marginalism - and how they provide conflicting explanations for accounting information like profit figures. It then describes an empirical case study of a UK mining company in Africa over 46 years divided into three periods. Income statements for each period show changing distributions of income that correlate with changing social and political conditions, supporting the classical view that accounting numbers reflect power relations rather than marginal productivity. The document argues this challenges the marginalist foundations of much accounting theory.
Prepared for the Chicago Federal Executive Board, this presentation assesses the nation's progress over the last 50 years and suggests a new framework for winning the "War on Poverty." Finding that welfare programs have significantly reduced absolute poverty but are inadequate to combat rapidly growing relative poverty, the presentation proposes a new market-based approach that leverages, rather than supplants, next economy markets to bring under-invested people and places back into the economic mainstream. The presentation concludes with principles for designing the federal government's role in this new effort.
The indicators of indian economy ppt @ mba 2009Babasab Patil
The document discusses various leading economic indicators of the Indian economy such as GDP growth trends, inflation rates, interest rates, credit levels, exports, imports, foreign investment, stock market performance, monsoon rainfall, and development indicators. Leading indicators can provide useful insights into the future direction of the economy by signaling turning points in business cycles ahead of changes in broader economic conditions. Monitoring a basket of leading indicators allows for more accurate forecasting of the overall performance of the Indian economy.
The document discusses trends in the US labor market and organized labor. It describes how economic trends affect employment rates, outsourcing, demographics, and wages. The labor force is defined as people aged 16 or older who are employed or unemployed. The Bureau of Labor Statistics tracks employment, unemployment, and labor force trends monthly. Wages vary based on supply and demand for different skill levels. While laws prohibit discrimination, women and minorities often still earn less. Labor unions arose to advocate for workers' rights and negotiate contracts through collective bargaining, though union membership has declined.
This document summarizes the structural economic issues facing the Philippine economy and society, including rising inequality, unemployment, deindustrialization, and the impacts of neoliberal policies like trade liberalization. It discusses how these factors have contributed to the rise of political dynasties and "economic warlordism" in impoverished areas. The government's response to recent economic and climate crises is described as inadequate. Alternatives proposed include integrating domestic industries, implementing a high-wage labor regime, and recognizing climate debt owed by wealthy nations.
Session 4 Youth Unemployment China Presentationwbeap
The document summarizes challenges around youth unemployment in China and proposes a 4E strategy to address it: Employment Creation, Entrepreneurship, Employability, and Equal Opportunity. It outlines specific government programs and policies to promote each element of the strategy. Priority groups are college graduates and rural migrant youth. The All-China Youth Federation plays a key role in coordinating efforts through its large network across China. Future plans include advocating for a national youth employment policy and expanding programs to promote entrepreneurship and international cooperation.
AEC, KI a INESS v spolupráci s ďalšími partnermi organizovali medzinárodnú
konferenciu v rámci Free Market Road Show 2013 na tému Šetriť alebo
nešetriť: Zachránia Európu len úsporné opatrenia?, ktorá sa konala dňa 7.
júna 2013 v Bratislave. Ďalšie súvisiace informácie nájdete na
www.konzervativizmus.sk
AEC, in cooperation with the Conservative Institute and INESS, and in
association with international partners organized the Free Market Road
Show 2013 in Bratislava on June 7, 2013. More information at
www.institute.sk.
The document discusses China's economic development and unemployment rate. It notes that China experienced rapid economic growth after economic reforms in 1978. China joined the WTO in 2001 and became the world's factory due to its large labor force and resources. In 2009, China surpassed Japan to become the second largest economy in the world. However, inflation increased to its highest level from 2009 to 2011 despite government efforts. While China has high GDP growth, its average worker income remains below international standards, and economic development has not always benefited workers.
This document discusses the demographic trends in India and their implications. It notes that India's population has grown significantly from 350 million at independence to over 1 billion currently. It is projected to reach 1.25 billion in the next 4 years. This will result in a large young working population that can boost economic growth if proper conditions are created. However, it may also strain urban infrastructure and amenities unless cities are developed adequately. Overall, the rising population underscores the need for increased investment in education, healthcare, job creation and urban development to harness the demographic dividend for India's progress.
AEC, KI a INESS v spolupráci s ďalšími partnermi organizovali medzinárodnú
konferenciu v rámci Free Market Road Show 2013 na tému Šetriť alebo
nešetriť: Zachránia Európu len úsporné opatrenia?, ktorá sa konala dňa 7.
júna 2013 v Bratislave. Ďalšie súvisiace informácie nájdete na
www.konzervativizmus.sk
AEC, in cooperation with the Conservative Institute and INESS, and in
association with international partners organized the Free Market Road
Show 2013 in Bratislava on June 7, 2013. More information at
www.institute.sk.
East Asia experienced extensive economic growth in the second half of the 20th century while Latin America saw stagnated growth and decline. This was largely due to differences in total factor productivity. Latin America adopted import substitution industrialization which led to inefficient state-owned enterprises, high inflation, and vulnerability to external shocks. In contrast, East Asian countries limited government intervention and inflation while promoting exports, education, savings, and sustainable growth through balanced budgets and market policies. As a result, East Asia saw investment exceed 20% of GDP annually and rapid growth, while Latin America suffered from low productivity following economic shocks.
The document discusses how governments redistribute income through social programs and progressive taxation. Governments intervene in markets to create a safety net and alleviate poverty by redistributing income directly through social programs or indirectly through progressive tax rates that impose higher tax burdens on higher incomes. Regressive taxes like sales taxes take a higher percentage from lower incomes since they spend a greater portion of income on taxable items compared to higher incomes that save and invest more.
Session 6 c wolfson corscadden iariw session 6IARIW 2014
This study examines the redistributive impact of Canada's publicly funded healthcare system both across income groups and over individuals' lifetimes. The authors construct a synthetic population to estimate lifetime healthcare costs and tax payments for different income deciles while accounting for varying mortality rates. Their findings suggest that publicly funded healthcare redistributes roughly one-third of costs over individuals' lifecycles through differing healthcare needs at different ages, and two-thirds between income deciles through higher spending on lower-income groups. Discounting lifetime costs and taxes does not substantially change these proportions.
Governments redistribute wealth through social programs and progressive taxation. They do so to create a safety net and alleviate poverty. Redistribution can be direct through social services or indirect through a progressive tax system where higher incomes face higher tax rates as a percentage of their income. Regressive taxes take a higher percentage from lower incomes, while proportional taxes apply the same rate to all incomes.
The document discusses key concepts about taxation and government funding. It begins by explaining that the government budget constraint means spending and revenues must be equal. It then outlines the learning objectives which include distinguishing average and marginal tax rates, explaining the U.S. income tax system, and how tax rates impact tax revenues. The chapter also discusses the major taxes collected by federal, state and local governments and how taxes affect markets.
The document discusses redistribution of income by governments through taxation and social welfare payments. It defines key terms like progressive, regressive, and proportional taxation. It also provides a graph showing the redistributive effect of taxes and benefits in altering the distribution of private income across income quintiles in Australia. The government collects taxes to redistribute revenue to low-income earners through social welfare payments, which account for over 40% of government expenditure and help reduce income inequality.
This short document contains a link and encourages the reader to click on it to access or obtain something. No other context is provided about what would be received by clicking the link or any other details.
This short document contains a link and encourages the reader to click on it to access or obtain something. No other context is provided about what would be received by clicking the link or any other details.
Onderzoeksgroep Insurance ism Alumni & Friends Actuariaat Leuven stellen voor: 'Actuarissen ad rem, over Leuven en later', portretten van spraakmakende alumni (& friends)
This document discusses measuring inequality and redistribution across advanced economies. It begins by explaining how inequality is typically measured using the Gini coefficient, with higher scores indicating higher inequality. Graphs show Gini coefficient scores for OECD countries in the mid-2000s, with the US and UK having among the highest inequality. The document also examines inequality within countries using income deciles and discusses factors that can influence inequality levels between nations, such as the strength of organized labor, economic openness, and welfare institutions.
The annual survey report found that:
1) Half of organizations surveyed have a formal recruiting strategy, and the main objective is attracting key staff.
2) While recruitment intentions decreased overall last year, 84% of organizations still experienced recruiting difficulties, mainly due to a lack of specialist skills.
3) Common initiatives to overcome difficulties include appointing underqualified candidates with potential and providing additional training.
4) Most organizations use recruitment agencies, mainly for temporary and permanent hiring. Cutting costs and direct hiring are reasons for reducing agency use.
The document discusses redistribution of wealth globally and the role of states in reducing inequality. Wealth worldwide has increased 72% since 2000 to $195 trillion and is estimated to rise 62% more to $315 trillion by 2015. Redistribution can be progressive, transferring wealth from rich to poor, or regressive, transferring from poor to rich, through taxation, policies, welfare programs, and other social factors. The Gini coefficient measures inequality, with higher numbers indicating more unequal distribution. While most countries have high inequality, states can build more efficient markets, expand access to finance, raise incomes through labor reforms, and implement distributive fiscal policies to reduce disparities.
Using structured approach and an SAP Sybase PowerDesigner Extension our product permit faster development, better interaction with stakeholders and sustain Information knowledge and enterprises processes. Our product will build all models using in a BI project including optimization and full information linage and traceability:
- Database
- extraction
- staging
- final model (ERD or Multi-Dimensional [MD]),
- Data movement model
- Orchestration model
Income distribution, poverty, and living standards can be measured in various ways. The document discusses four main approaches to measuring income: the transaction approach, activities approach, balance sheet approach, and value added approach. It also discusses defining and measuring poverty and income inequality using metrics like the Gini index. Poverty reduction measures aim to permanently lift people out of poverty, while standard of living is measured using GDP per capita and factors like consumer spending, business investment, government spending, and net exports.
The document discusses different forms of state intervention in market systems and their impact on society. It provides examples of fiscal policy, monetary policy, regulation, and nationalization used by states to influence economic conditions. It also examines the advantages and disadvantages of market systems and debates around balancing state intervention with free markets. Figures and tables are presented analyzing the relationship between different political economies and outcomes like physical well-being, education, and safety. The conclusion discusses finding the right balance between states and markets.
The document discusses key elements of a country's economic environment that impact business operations. It identifies factors such as gross national income, gross domestic product, per capita income, growth rates, purchasing power, human development index, inflation, employment, debt, income distribution, poverty, labor costs, and productivity. It also explains different economic systems including capitalism, socialism, and mixed economies. Managers must assess the economic environment to make investment and strategy decisions.
Functional Income inequality and the post 2015 Agenda - presentation by Rolp...reinoutthebroker
Rolph van der Hoeven, ISS
For the occasion of The Development Studies Association Annual Conference 2013
16 November 2013, Birmingham
Panel 25: Inequality and the Post 2015 Agenda, organised by the Broker
http://thebrokeronline.eu/Articles/Inequality-is-politics
The document is a chapter from an economics textbook on poverty, inequality, and development. It discusses measuring and understanding poverty and inequality, including concepts like Lorenz curves and Gini coefficients. It also examines the relationship between economic growth, poverty reduction, and changes in inequality. Key policies for addressing poverty are outlined, such as redistributing assets, progressive taxation, and direct transfers to the poor. The chapter includes country-level data and case studies to illustrate these concepts.
Equity refers to fairness, while equality refers to sameness. Equity aims to address unequal outcomes, even if they arise from equal treatment or opportunity. Competitive markets do not always result in equitable distributions, as people have different abilities and needs. Governments can promote equity through policies like progressive taxation, welfare spending on education and healthcare. However, redistribution reduces the incentive to work and causes some loss of economic efficiency. Overall, markets promote efficiency while governments aim to enhance equity through various programs and taxation systems.
The economic environment refers to all economic factors that influence business operations. It determines the inputs businesses need and the markets to sell finished goods. Key elements include gross national income, GDP, inflation, unemployment, poverty levels, and the type of economic system - whether it is a market, command, or mixed economy. Managers must assess the economic environment to make investment and strategic decisions that account for local conditions and predict future performance.
The document provides details about an intermediate macroeconomics course final project completed by Te Lai. It includes an introduction to Te Lai and their background/interests. The document then outlines the course schedule and problem sets completed over the term which covered topics like economic growth models, rational expectations theory, and a field trip to a stablecoin company. It concludes with reflections on skills learned and how the course improved the understanding of macroeconomics.
Equity refers to fairness, while equality refers to sameness. An equitable distribution of resources gives all people access to basic needs and a satisfactory standard of living, regardless of individual efforts or abilities. Equitable tax systems deliver both horizontal equity, where those with equal ability to pay taxes do so equally, and vertical equity, where those with greater ability pay more. While markets can allocate resources efficiently, they do not always distribute outcomes fairly. Governments may pursue redistribution policies to improve equity but these could damage incentives to work.
The document summarizes a presentation on attitudes toward universal basic income and welfare states in Europe. It discusses research examining the relationship between socioeconomic conditions in 21 European countries and public support for universal basic income. The research found that over 50% of respondents supported universal basic income in their country, but support varied significantly between countries. Countries with more generous social welfare systems had lower levels of support, while countries with greater economic insecurity were more receptive to universal basic income.
The document discusses income inequality and poverty in the United States. It examines how inequality is measured and has changed over time. Political philosophies like utilitarianism, liberalism, and libertarianism offer different views on the government's role in redistributing income. The document also analyzes policies aimed at reducing poverty, including minimum wage laws, welfare, negative income taxes, and in-kind transfers, as well as their potential impacts on work incentives.
The document discusses measuring and comparing poverty and inequality across countries. It defines absolute and relative poverty, and measures like the poverty headcount ratio and average poverty gap. The $1.25 a day standard is introduced. Inequality is measured using the Lorenz curve and Gini coefficient. Key determinants of inequality discussed include education, land ownership, and credit access. The relationship between inequality and economic growth is examined, finding high inequality is correlated with slower growth. Trends within and across countries over time are also analyzed.
The document discusses several key topics related to economics and government. It outlines three main functions of government: the allocation function regarding public goods, the distribution function regarding income distribution, and the stabilization function regarding maintaining economic stability. It also discusses economic policy goals such as full employment, price stability, economic growth, and income distribution. Additionally, it covers topics like fiscal policy, types of unemployment, types of economic instability, and the distribution of income.
Literature review and summary of recent publications, blogs and reports. Delivered July 3 2014, At University of Novi Sad Conference: The Socio-Economic Aspects of Inequality.
The document discusses measuring economic growth and development. It distinguishes between economic growth, defined as a rise in real per capita income, and economic development, which is a normative concept involving improvements to well-being, health, education, and other factors. Two main measures of economic growth are GDP and GNP. While GDP provides a standard measure, it has limitations and issues with price comparisons across countries can arise. Purchasing power parity aims to address these issues. Overall economic development requires not just growth but also converting income gains into improved human capabilities and living standards.
Mgt 376 international business all images in this presentation/tutorialoutletLarter
FOR MORE CLASSES VISIT
tutorialoutletdotcom
All images in this presentation are used for educational purposes. Fair dealing. MGT376
International Business
Lecture 2:
Political Economy & Risk
Dr. Sergej Ljubownikow
e-mail: s.ljubownikow@sheffield.ac.uk
Politicians have strong incentives to get re-elected and focus on voters, not long-term economic impacts. Price floors lead to surpluses by keeping prices above market equilibrium, while price ceilings cause shortages by keeping prices below equilibrium; both create deadweight losses. When the economy is in a recession, governments use fiscal policy like increased spending and tax cuts to boost aggregate demand, and monetary policy where the Federal Reserve lowers interest rates and buys bonds to increase the money supply.
" The lower one’s income, the higher one’s overall effective state and local tax rate. Combining all state and local income, property, sales and excise taxes that Americans pay, the nationwide average effective state and local tax rates by income group are 10.9 percent for the poorest 20 percent of individuals and families, 9.4 percent for the middle 20 percent and 5.4 percent for the top 1 percent."
MGMK 4710INTERNATIONAL BUSINESSUNIT 1 GENERAL ENVIRONMENTDioneWang844
MGMK 4710
INTERNATIONAL BUSINESS
UNIT 1: GENERAL ENVIRONMENTS
ESSAY QUESTIONS 1.1.
JAPAN
Alyssa Parsley
Instructions for Essay Questions 1.1:
· Go to Essay Questions 1.1.
· Your answers must have a title that looks like the one above. Write your country’s name and your team members’ names. (ALREADY WRITTEN. COUNTRY IS JAPAN)
· Write question # (e.g., Question 1), delete all directions, then provide your answer.
· For each question, break your answer into two or more paragraphs. Single-space your answers.
· In your answers, provide specifics related to your country (that is, do not be generic)
· Each answer must show that you have read relevant concepts from the Study Guides.
· Provide references of your source(s).
QUESTION 1:
In Chapter 2, Hofstede has identified six dimensions of culture. In one sentence, give the name of the six dimensions of cultures. In one sentence each, define two dimensions of your choice. Using those two dimensions, describe your country’s culture. Provide specifics about your country.
QUESTION 2:
Chapter 3 identifies two political systems (democracy and totalitarianism). In one sentence, give the name of your country’s political system. In 7 to 10 sentences, explain your answer. Provide specifics about your country.
4
Cmit 425 week 6
200-400 words APA style
Your task: Develop an "intake" briefing for middle managers who will be assisting in the planning and execution of an internal audit of employee use of company owned laptops as part of the company's "Work From Home" arrangements. The purpose of an "intake" briefing is to get everyone "on the same page" with respect to what will be done, who will do it, and what the roles & responsibilities of the managers will be during the audit (e.g. assist with employee contacts and "smooth ruffled feathers" amongst their workers).
Background: The purpose of the audit is to determine how the laptops are being used by the employees working from home (what corporate and non corporate systems, services, networks, and websites are being accessed) and to uncover, if possible, any misuse (e.g. usage that is outside of the company's acceptable use policy). The audit should also look for evidence of laptops that are improperly configured or have vulnerable software installed.
Background: The company will follow the Information System Security Audit Process as defined by Harris & Maymi in the CISSP All-in-One Exam Guide, 8th edition. The steps are:
1. Determine Goals
2. Involve the right business unit leaders
3. Determine the scope
4. Choose the audit team
5. Plan the audit
6. Conduct the audit
7. Document the results
8. Communicate the results
Format: this week, your deliverable should be formatted as briefing paper (you will have a combination of paragraphs and bullet points). You should have an introduction, "analysis" section (explaining the ground rules and processes for how the audit will be conducted), and an appropriate summary section (including an ap ...
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Main Java[All of the Base Concepts}.docxadhitya5119
This is part 1 of my Java Learning Journey. This Contains Custom methods, classes, constructors, packages, multithreading , try- catch block, finally block and more.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
3. MEASURING
EQUALITY
AND
INEQUALITY
• How
do
we
know
how
equally
income
is
distributed
in
a
society?
• Lots
of
data
available.
Growth
in
rigorous
data
collec@on,
esp.
for
advanced
countries,
over
last
30
years.
Sources:
official
tax
returns,
micro
surveys
of
household
income
and
assets
• Most
common
measure
of
inequality:
Gini
coefficient.
Higher
Gini
=
higher
inequality
4.
5. Gini
coefficients
of
income
equality,
OECD
countries,
mid-‐2000s
0.50
0.45
0.40
0.35
0.30
0.25
0.20
6. Gini
coefficients
of
income
equality,
OECD
countries,
mid-‐2000s
Note:
Countries
are
ranked,
from
leO
to
right,
in
increasing
order
in
the
Gini
coefficient.
The
income
concept
used
is
that
of
disposable
household
income
in
cash,
adjusted
for
household
size
with
an
elas@city
of
0.5.
Source:
OECD
income
distribu@on
ques@onnaire.
h,p://dx.doi.org/10.1787/420515624534
Published
in
OECD,
Growing
Unequal,
2008.
7. • Gini
measures
overall
inequality
–
doesn’t
tell
us
everything
about
the
distribu@on
• Could
be
driven
by
differences
between
rich
and
middle
or
between
poor
and
middle
(though
usually
both)
• Other
measures
–
compare
ra@os
of
different
parts
of
income
distribu@on:
• Divide
distribu@on
into
por@ons
quin@les
(fiOhs),
deciles
(tenths),
percen@les
(hundredths)
etc
• Compare
averages
of
por@ons,
eg
90/10
ra@o,
90/50
ra@o
9. Income
levels
by
distribu@on
deciles,
OECD
mid-‐2000
(US$,
PPP)
• Note:
The
data
refer
to
equivalised
household
disposable
income
of
people
at
different
points
of
the
distribu@on.
For
each
country,
the
bar
starts
at
the
average
income
of
the
first
decile
and
ends
at
the
average
income
of
the
10th
decile.
The
figure
also
shows
the
mean
income
over
the
en@re
popula@on
(shown
as
a
diamond).
Income
data
for
each
country
are
adjusted
for
infla@on
(when
they
refer
to
a
year
different
from
2005)
and
then
converted
into
US
dollars
based
on
PPP
rates
for
actual
consump@on
in
2005.
This
exchange
rate
expresses
the
costs
of
a
standard
basket
of
consumer
goods
and
services
purchased
on
the
market
or
provided
for
free
(or
at
subsidised
rates)
by
the
public
sector
in
different
countries.
Countries
are
ranked,
from
leO
to
right,
in
increasing
order
of
mean
equivalised
income.
Source:
OECD
income
distribu@on
ques@onnaire
and
other
OECD
databases.
Published
in
OECD,
Growing
Unequal,
2008
h,p://dx.doi.org/10.1787/420721018310
10. • Other
issues
• Pre-‐tax
and
post-‐tax
income
inequality:
• Pre-‐tax/pre-‐fisc/’market’
income
=
measures
income
before
taxes
paid
and
government
payments
received
• Post-‐tax/post-‐fisc/disposable
inequality
–
measure
income
aOer
taxes
deducted
and
govt
payments
• Unit
of
analysis
–
individuals
or
households?
• Usually
households,
‘equivalized’
–
ie
recalculate
as
if
every
household
a
‘typical’
one
to
allow
comparison
• But
household
income
inequality
s@ll
affected
by
structure
of
households,
which
changes
over
@me
(eg
more
single
people,
more
dual
earners
etc)
11.
12. • Why
does
inequality
vary?
• Why
should
we
care?
• Posi@ve
and
norma@ve
ques@ons.
Both
worth
answering
• Even
if
we
take
a
relaxed
view
of
inequality,
s@ll
interes@ng
to
ask
what
this
tells
us
about
how
capitalism
is
working,
and
whether
it
is
poli@cally
sustainable
13. • Many
influen@al
explana@ons
available
• Economists
tend
to
focus
on
globaliza@on
(capital/trade),
technological
change,
market
structures
• Poli@cal
scien@sts
and
sociologists
more
interested
in
how
poli@cal
and
social
ins@tu@ons
regulate
markets
and
redistribute
income
• The
‘poli@cs’
of
inequality
14. • What
do
we
mean
by
‘poli@cs’
• Poli@cal
par@es
and
poli@cal
ideas
• Pagerns
of
worker
and
employer
representa@on/
organiza@on
• Welfare
ins@tu@ons
and
tradi@ons
• Redistribu@ve
fiscal
policy
• Redistribu@ve
regula@on
• Macroeconomic
policy
ins@tu@ons
15. WHY
DO
REDISTRIBUTION
AND
EQUALITY
VARY
ACROSS
NATIONS?
Classic
explana@ons
for
rise
of
redistribu@on
•
•
•
•
•
Democracy
–
early/late
democra@zers
Strength
of
organized
labour
(trade
unions,
par@es)
Strength
of
(organized)
business
Economic
openness
(country
size)
War
and
its
variable
effects
16. WHY
DO
REDISTRIBUTION
AND
EQUALITY
VARY
ACROSS
NATIONS?
Varie@es
of
democracy:
• Cons@tu@ons
• Electoral
systems
• Cleavages:
religion
• Cleavages:
ethnic
frac@onaliza@on
• Idea@onal
varia@on
–
different
ideologies
stronger
in
different
countries
(Weber)
17. DEMOCRACY
AND
REDISTRIBUTION
•
Why
does
democracy
lead
to
redistribu@on?
Meltzer/Richard
model:
• Government
taxes
to
redistribute
• The
median
voter
has
below
average
income
• Builds
on
and
refines
famous
‘Downsian’
model
of
electoral
compe@@on.
18. • Downs
posits
a
two-‐party
system
(already
a
contrivance,
outside
the
Anglo-‐American
context)
• If
electorate
is
distributed
along
a
single
issue
dimension,
and
is
normally
distributed,
par@es
will
converge
in
a
bagle
for
the
‘median
voter’.
• A
normal
distribu@on,
with
the
x
axis
implying
a
leO-‐right
scale,
would
look
like
this…
20. • Most
voters
are
located
in
the
centre
of
the
distribu@on,
very
few
voters
are
located
at
the
‘extremes’
of
leO
and
right.
• Par@es
adopt
moderate
posi@ons
to
agract
the
median
voter,
which
will
deliver
a
majority.
• Poli@cs
inherently
balanced,
and
elec@ons
produce
representa@ve
government
(most
voters
are
located
close
to
the
median
voter).
• No
systema@c
bias
in
this
model.
22. • What
happens?
• The
median
voter
has
an
incen@ve
to
vote
for
redistribu@on,
which
will
make
her
beger
off.
• Democracy
will
produce
governments
focused
on
redistribu@ng
from
the
more
to
the
less
produc@ve.
• Constant
growth
of
the
state.
23. • Meltzer,
Allan
H.,
and
Scog
F.
Richard.
"Why
Government
Grows
(and
Grows)
in
a
Democracy."
• Government
growth
can
only
be
coherently
explained
in
terms
of
the
‘difference
between
the
distribu@on
of
votes
and
the
distribu@on
of
income’.
24. Market incomes distributed much more unequally than net incomes
Inequality (Gini coefficient) of market income and disposable (net) income
in the OECD area, working-age persons, late 2000s
25. • Does
this
always
happen?
Some
governments
redistribute
more
than
others;
redistribu@on
changes
over
@me
(recently
in
decline)
• In
spite
of
the
numerical
superiority
of
the
poor
majority,
capitalism
remains
intact,
and
huge
dispari@es
of
income
and
–
especially
–
wealth,
remain.
• Przeworski
and
Sprague,
Paper
Stones.
A
History
of
Electoral
Socialism
26. • In
fact,
redistribu@on
varies
across
democracies.
• What
kind
of
ins@tu@onal
dynamics
do
Meltzer/
Richard
ignore?
• Need
to
consider
ins@tu@ons
and
collec@ve
behaviour.
27. ELECTORAL
SYSTEMS
AND
REDISTRIBUTION
• In
a
democracy,
equal
votes
for
all
ci@zens.
But,
electoral
rules
determine
how
votes
translate
into
power
• Electoral
system
another
key
variable:
• ‘Majoritarian'
or
'plurality'
electoral
systems
-‐
like
First
Past
the
Post
(FPTP)
in
Britain
• PR
=
‘propor@onal
representa@on’
–
systems
which
allocate
representa@on
in
propor@on
to
party
vote
share.
28. • In
majoritarian
systems,
‘winner
takes
all’
logic
–
no
incen@ve
to
share
power
with
weaker
groups.
• In
PR,
more
groups
have
a
say,
encourages
more
nego@a@on
(veto
power
for
many
groups)
29. • Many
scholars
have
argued
for
a
strong
effect
of
electoral
system
on
redistribu@on
• In
PR,
need
to
integrate
wider
variety
of
groups
into
decision-‐making
encourages
sharing
of
proceeds
of
economic
ac@vity
• FPTP
(majoritarian)
rules
tend
to
over-‐represent
some
par@es
and
under-‐represent
others.
30. • In
PR,
small
par@es
able
to
win
seats
in
parliament,
large
par@es
denied
inflated
majori@es:
forced
to
seek
alliances
in
order
to
form
government
coali@ons.
• This
means
all
groups,
not
just
the
poor,
able
to
demand
favourable
policies.
• In
FPTP,
par@es
can
govern
with
less
than
majority
vote
share.
31. • PR
-‐
a
more
inclusive
system
–
benefits
most
vulnerable
social
groups,
•
They
are
least
able
to
defend
their
interests
in
more
compe@@ve
ins@tu@onal
environments.
• More
representa@on
more
‘democra@c’?
Allows
all
groups
to
demand
their
share.
32. • If
people
more
represented,
democracy
effects
iden@fied
by
Meltzer/Richard
more
powerful?
• Ul@mately
depends
on
ability
of
median
voter
to
mobilize
majority
support
for
redistribu@on.
• Empirically,
clear
correla@on:
Welfare
states
stronger
in
PR
democracies
(Stephens,
Swank)
33. • In
UK,
US,
Canada,
NZ
(-‐>
1990s)
and
Australia,
majoritarian
electoral
rules
associated
with
hardline
neoliberalism
(eg
Thatcher,
Reagan).
• In
con@nental
Europe,
home
of
the
'social
market
economy',
PR
is
the
norm.
• But,
some
excep@ons
-‐
Ireland
has
PR
and
ligle
redistribu@on,
France
has
a
two-‐round
majoritarian
system
and
extensive
welfare
34.
35. EXPLAINING
REDISTRIBUTION?
• Does
the
electoral
system
really
explain
these
effects?
• Lots
of
other
things
going
on:
mul@collinearity
of
relevant
variables
makes
understanding
causality
difficult.
36. • Endogeneity:
electoral
system
may
be
a
result
of
redistribu@on
• Spurious
correla@on:
electoral
system
and
redistribu@on
may
be
both
caused
by
a
third
variables.
• Not
just
rules,
but
social,
cultural,
historical
factors.
37. • In
any
case,
empirically
and
historically
electoral
systems
are
part
of
a
broader
collec@on
of
ins@tu@ons
pushing
poli@cal
systems
in
a
par@cular
direc@on.
• Majoritarian
ins@tu@ons
concentrate
power
around
the
representa@ves
of
the
most
powerful
groups,
while
consensus
ins@tu@ons
disperse
it,
allowing
minori@es
the
chance
to
influence,
or
even
veto,
policy
decisions.
38. • USA
a
test
case:
• Consensus
democracy
in
some
respects:
federalism,
bicameralism,
cons@tu@onalism,
separa@on
of
powers
• But,
majoritarian
in
others:
FPTP
electoral
system.
• Which
makes
the
difference?
39. • Redistribu@ve
poli@cs
not
only
about
poor
seeking
redistribu@on
from
rich
–
also
movement
in
opposite
direc@on
• Lobbying,
corrup@on,
campaign
finance
• Market
regula@on
can
redistribute
from
consumers
to
producers
–
protec@onism
• Inequality
of
access
to
electoral
resources
40. • How
capable
are
voters
of
assessing
the
effects
of
policy?
• Powerful
corporate
interests
can
buy
propaganda;
demobilized
voters
are
‘cogni@ve
misers’
–
no
incen@ve
to
gather
informa@on
• Well
financed
campaigns
can
overturn
redistribu@ve
dynamics
of
elec@ons
• Voters’
weak
understanding
of
policy
(Bartels)
42. CONCLUSIONS
• So,
basic
models
of
electoral
models
predict
amount
of
redistribu@on
and
inequality
• Refinements
of
models
needed
to
capture
real
varia@ons
between
countries
• Electoral
systems
and
party
systems
‘endogenous’
to
other
variables
that
may
be
causally
‘prior’
• Other
ins@tu@ons
-‐
history,
culture,
religion?
43. Core
ques@ons:
Why
study
inequality?
How
should
we
measure
inequality?
Why
do
democracies
redistribute
more?
Why
do
some
democracies
redistribute
more
than
others?
What
does
rising
inequality
tell
us
about
the
way
democracy
works?