Size and functional distribution of income
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Economists have tried to explain how income is distributed by looking at both the size and functional distribution of income. The functional distribution divides national income according to the main sources of income - rents, profits/interest, and wages. It focuses on three social classes. However, by the late 19th century the lines between classes were blurring. The size distribution instead looks at inequality between individual income earners regardless of source, and can include those with multiple sources of income across different classes.
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Running head: WEALTH DISTRIBUTION IN THE US 1
WEALTH DISTRIBUTION IN THE US 4
Wealth Distribution in the US
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2018, February 21
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Dear Joseph,
Wealth distribution has to be as equitable as possible to embrace regional balance in the country. Equal distribution of wealth starts with ensuring equal opportunities politically, socially and economically to all people in the society regardless of their socioeconomic status, gender, or disabilities among other discriminative factors. In this regard, the even distribution of wealth also ensures equal growth and development of a country because of the uniform improvement of the citizens’ living standards across the nation. Irrespective of all these advantages, there are still many gaps in the distribution of opportunities; hence, affluence in America and across the world at large according to "Capital in the 21st Century" and "Wealth, Income, and Power." Comment by 作者: Delete. The previous sentence is your thesis.
There are various ways of determining the wealth of people. Nonetheless, in the US, Domhoff (2005) argues that the main method focuses on the wages or salaries and the total possessions of the people. As such, the society identifies the wealthy citizens as those with high salaries and or wages and or with many valuable properties and the poor as those with low salaries and a few or less valuable possessions. In this respect, I argue that any factor that affects salaries and wages as well as personal properties of the people, in turn, affects the distribution of wealth of the citizens in the nation. Meanwhile, salaries and wages (incomes) are among the major factors that influence wealth distribution of people across the world. Comment by 作者: Do not use this format.
Put the in text citation after the sentence. Comment by 作者: There is no reason for giving a definition of income and wealth. Delete. Comment by 作者: No first person.
Peoples' income influences wealth distribution because it dictates the property's acquisition potential of individuals. Citizens with high incomes can purchase expensive things and as much as they want; hence, they are rich, as opposed to the low earning people. In most societies, the rich reside in high standard states and towns with slams and other low standard residences left for the poor (Domhoff, 2005). It is in this regard that the high standard residences are growing and developing with improved services and goods at the expense of the rest of the region. If we have to develop the other regions as well, we will have to better the incomes of their residents through better economic opportunities. Domhoff (20 ...
Introduction to statistics
"Introduction to statistics " topic is for class 11th students to understand the concept of economics.
Characteristics of community
A community is a group of people living in the same place or having a particular characteristic in common. It has several basic elements including a shared locality, common sentiments of belonging, a group of people living together with a common way of life, and a particular name to identify it. Communities serve important functions such as social control, social participation, and mutual support of its members. There are two main types of communities - urban communities that are more developed and populated with non-agricultural jobs, and rural communities that have lower population densities and rely more on primary sector activities like agriculture.
Gv4 d4.2.201314
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.
Gv4 d4.2.201314
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.
Income distribution
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.
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Direct vs indirect taxes
This document distinguishes between direct and indirect taxes. Direct taxes include income tax, corporation tax, capital gains tax, and capital transfer tax, which are paid by individuals and businesses directly. Indirect taxes are levied on the consumption of goods and services, through taxes like customs duty, excise duty, stamp duty, and sales/consumption taxes that are paid by manufacturers and importers and passed on to consumers. Examples are provided of calculating income tax, capital gains tax, customs duties, and excise taxes to illustrate how these different types of direct and indirect taxes are applied.
Methods of discharge/termination of contracts
This document discusses various methods by which contracts can be discharged or terminated, including performance, breach, agreement between parties, impossibility or frustration of purpose, lapse of time, death, and other methods such as bankruptcy, waiver, or merger into a new contract. It defines types of performance like partial, substantial, and complete, and categories of breach such as anticipatory and actual. In summary, it provides an overview of the key ways that contracts can no longer be enforced once obligations have been fulfilled or circumstances prevent fulfillment.
Economic Systems CAPE
The document discusses four main types of economic systems: traditional, command/planned, free market, and mixed. It defines each system, describes their key features such as motivation and ownership, and analyzes their advantages and disadvantages. Traditional systems are based on customs and subsistence production. Command economies involve centralized state planning and ownership. Free markets rely on private ownership and the mechanism of supply and demand. Mixed systems combine public and private aspects. Examples of each type are also provided.
The supply of land
Land is a naturally occurring resource that differs from capital and labor in that its overall supply cannot be increased to meet demand. While the total supply of land is fixed, the supply available for a specific use or industry is not, as land use can shift between agricultural, recreational, and residential depending on who offers the highest price. As the price paid for land increases, more land will be supplied for that particular use, resulting in an upward-sloping and elastic supply curve for land available to individual markets.
Shifts vs changes in slopes
A shift in a production possibility curve occurs when resources for both goods change, causing the entire curve to shift. A change in slope happens when resources for one good change, causing the maximum output of that good to increase or decrease while the other good's maximum remains the same, represented by a rotation of the curve. The document provides an example of Canada obtaining more corn from South America, allowing for increased tortilla production but unchanged oven output.
Measures to reduce income inequality
This document outlines several measures that could be used to reduce income inequality:
1) A progressive tax system where tax rates increase with income could generate government revenue to fund services for low-income groups like healthcare, housing, and education.
2) Transfer payments like child support and disability payments that are made without an exchange of services increase the income of underprivileged households.
3) Subsidies for education can promote equal access and increase graduation rates, helping to reduce future inequality.
Private sector intervention to correct market failure
The private sector uses four main measures to address market failures:
1. Corporate codes of conduct that set standards for product safety and quality as well as social and environmental issues to address information failures.
2. Corporate social responsibility programs that voluntarily reduce negative externalities and increase positive ones to improve social welfare.
3. Voluntary agreements with governments where firms commit to gradually reduce pollution emissions over time.
4. Corporate ethics codes that establish norms of behavior for employees to internalize external costs as private costs.
While these measures can improve welfare by reducing market failures, they also increase business costs, which may be passed onto consumers as higher prices.
Market failure explanation
Market failure occurs when the free market does not allocate resources efficiently to maximize societal welfare. It happens when the market output level does not coincide with where marginal social costs equal marginal social benefits. This means the market overproduces or underproduces a product compared to the efficient level where welfare is maximized. Market failure definitionally refers to situations where the allocation of resources by the market mechanism is inefficient.
Marginal costs and benefits private external and social
This document defines and compares private, external, and social marginal costs and benefits. Private marginal costs are costs to firms, reflected in supply curves. External marginal costs are borne by third parties not involved in the transaction. Social marginal cost is the total cost to society, which equals private marginal cost plus external marginal cost. Similarly, private marginal benefits accrue to consumers, external marginal benefits are enjoyed by third parties, and social marginal benefit is the total benefit to society.
Labour mobility and wages
Labour mobility refers to the ease with which workers can move between jobs either geographically or occupationally. Geographical mobility involves moving between jobs in different locations, while occupational mobility is moving between different jobs within an industry. Higher labour mobility leads to a convergence of wages across markets as workers move from low wage to high wage areas. However, in reality complete wage convergence does not occur due to barriers like a lack of information about other labour markets or difficulties transferring human capital between occupations.
Costs of poverty
This document outlines four key costs of poverty: 1) unemployed human resources as poverty leads to a lack of jobs and unemployed individuals, 2) lower potential output as unemployed individuals are unable to contribute to economic growth and GDP, 3) inefficient allocation of government expenditure as funds must be spent on welfare programs rather than productive investments, and 4) social and environmental costs such as increased crime, health issues, and environmental degradation as poverty exacerbates social problems.
Costs of production
This document defines and provides examples of different types of costs including fixed costs, variable costs, total costs, average costs, and marginal costs. Fixed costs remain constant regardless of production quantity, such as rent. Variable costs change with output level, like packaging. Total cost is the sum of fixed and variable costs. Average costs are calculated by dividing total costs by units of output. Marginal cost represents the change in total cost from producing one additional unit.
Sub-Accounts of the Balance of Payments
The document discusses the balance of payments of a country. It is a record of all economic transactions between a country and the rest of the world, including payments made (outflows) and received (inflows). The balance of payments has two main accounts - the current account, which records trade in goods and services, income, and transfers; and the capital account, which covers capital flows from private and government sources like foreign direct investment. When the current and capital accounts are not balanced, it affects a country's official foreign reserves.
Demand for money
This document discusses the three motives that drive individuals' demand for money: transactionary, precautionary, and speculative. Transactionary demand refers to money held for regular purchases and bills that are paid periodically but not simultaneously to when individuals are paid. Precautionary demand is money held for unforeseen life events. Speculative demand arises from hoping to profit from changes in bond prices, with higher interest rates reducing speculative money holding as bonds become more attractive. Overall, demand for money results from the combination of needs for transactions, precautions, and speculation.
Land as a factor of production
An outline of land including its definition, characteristics, types (or uses), importance and productivity.
Characteristics of market structures
Market structure refers to the characteristics that determine how firms in an industry behave, including the number of firms, type of product, control over price, and freedom of entry and exit. The number of firms ranges from many to few or one. Products can be standardized or differentiated in physical or perceived ways. Firms have varying levels of control over price depending on competition. Barriers to entry like licenses or high costs can impact the freedom firms have to enter or exit an industry.
Quality of life
The document defines quality of life according to the World Health Organization as an individual's perception of their position in life based on their culture, goals, and health. It is affected by physical and mental health, independence, social relationships, beliefs, and environment. The document then lists six key indicators that were identified with over 83% accuracy: 1) extent of security, 2) availability of health, education, and recreation facilities, 3) diet and nutrition, 4) life expectancy, 5) infant mortality rate, and 6) access to public utilities and technology. Examples are provided for each indicator explaining how it impacts an individual's quality of life.
Terms of sale
This document outlines several common terms of sale: cash payments involve immediate payment with various methods and are common for small purchases, while credit allows purchasing high-priced items by paying an additional interest charge over time. Hire purchase is similar to credit but the supplier retains ownership until full payment. Layaway allows reserving an item by making deposits until it's paid off without interest, and consignment involves a dealer selling goods for the supplier and only paying for what they sell.
Functions of retailing
Retailers provide outlets for manufacturers' products, hold stocks of goods to meet consumer demand, and make goods available to consumers in preferred quantities. They are located conveniently for consumers and provide advice, after-sales services, and feedback from consumers to manufacturers.
Characteristics of a successful entrepreneur
Successful entrepreneurs exhibit creativity by developing new ideas and concepts to solve problems or discover niche markets. They are also innovative in converting new ideas into successful products or services. Entrepreneurs must be flexible and multi-skilled to carry out various tasks across different business areas like human resources, accounting, and promotion. They are also goal-oriented in setting clear targets for themselves and employees to achieve the business aims. Entrepreneurs persevere through challenges by continuing their efforts in the face of adversity and rethinking ideas when businesses seem to be failing. They also take calculated risks by pursuing ventures only if costs and benefits analysis show potential for profit.
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本公司拥有海外各大学样板无数，能完美还原。
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
真实可查(nwu毕业证书)美国西北大学毕业证学位证书范本原版一模一样
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【业务选择办理准则】
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二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
原版定制【微信:bwp0011】《(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书》【微信:bwp0011】成绩单 、雅思、外壳、留信学历认证永久存档查询，采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信bwp0011】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信bwp0011】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
学校原件一模一样【微信：741003700 】《(GU毕业证书)美国贡萨加大学毕业证学历证书》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
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留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
The state of welfare Resolution Foundation Event
How has Britain’s safety net changed since 2010 and what comes next?
How to Use Payment Vouchers in Odoo 18.
Every business, big or small, deals with outgoing payments. Whether it’s to suppliers for inventory, to employees for salaries, or to vendors for services rendered, keeping track of these expenses is crucial. This is where payment vouchers come in – the unsung heroes of the accounting world.
Independent Study - College of Wooster Research (2023-2024)
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn
Bank of Finland
Press conference on the outlook for the Finnish economy
Helsinki, 11 June 2024
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
原版一模一样【微信：741003700 】【美国迈阿密大学牛津分校毕业证文凭证书】【微信：741003700 】学位证，留信认证（真实可查，永久存档）offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
做澳洲澳大利亚国立大学毕业证荣誉学位证书原版一模一样
原版一模一样【微信：741003700 】【澳洲澳大利亚国立大学毕业证荣誉学位证书】【微信：741003700 】学位证，留信认证（真实可查，永久存档）offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
Detailed power point presentation on compound interest and how it is calculated
Detailed information about compund interest
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Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.Ending stagnation: How to boost prosperity across Scotland
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
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Size and functional distribution of income
- 1. Size and Functional Distribution of Income PREPARED BY SANDREA BUTCHER
- 2. Economists, politicians and other researchers have always tried to explain how income is distributed.
- 3. In their efforts they have classified it by size and by function.
- 5. Functional distribution of income divides national income between the main resources
- 6. It divided the population into social classes and shared the income according to the class.
- 7. It captured the proportion of income going to the owners of the main resources.
- 8. It focuses on the source of income and distinguishes income from employment and income from property. Landowners (haves) and the others (have nots).
- 9. Functional distribution of income was the leading school of thought up to the nineteenth century. Three distinct classes were present. Income earned Supplier Rents Agricultural proprietors Profits and interest Commercial and industrial entrepreneurs Wages Labourers
- 11. Size distribution of income refers to the proportion of total income received by various groups and focuses on inequality of income between various income earners, irrespective of the source from which the income is derived. It can also be called personal distribution of income.
- 12. By the end of the nineteenth century the lines between the social classes were becoming blurred.
- 13. Based on size distribution of income someone could be at the lower end of the earning ladder and still own land. Some capitalists (entrepreneurs) such as owners of small retail stores are in the lower part of the income scale.
- 14. Some wage earners (such as professional sportsmen) are at the upper end of the income scale.
- 15. Many wage earners own company shares, through mutual funds and life insurance policies.
Editor's Notes
- Image extracted from http://peped.org/economicinvestigations/2634/ on 27th July 2017
- Photo extracted from https://upload.wikimedia.org/wikipedia/commons/thumb/e/e8/Pyramid_of_Capitalist_System.jpg/200px-Pyramid_of_Capitalist_System.jpg on 1st August 2017
- Phot extracted from https://www.forbes.com/sites/robertwood/2012/01/26/tax-gap-grows-between-haves-and-have-nots/#2a468e3b335b on 1st August 2017
- Phot extracted from http://pre11.deviantart.net/0315/th/pre/i/2011/315/8/9/light_trails_1_by_oceanbased-d4futqm.jpg on 1st August 2017.
- Top photo extracted from http://www.ilovebarbados.co.uk/wp-content/uploads/2013/11/Chatel-House-Tyrol.alt_.jpg on 1st August 2017 Bottom photo extracted from http://barbados.gssites.com/pages/bawa/images/rumshop.jpg on 1st August 2017
- Photo on the left extracted from https://blog-blogmediainc.netdna-ssl.com/upload/SportsBlogcom/2355290/0393288001463260456_filepicker.jpg on 1st August 2017 Photo on the right extracted from http://st3.cricketcountry.com/wp-content/uploads/2015/02/Chris-Gayle-of-the-West-Indies-celebrates2.jpg on 1st August 2017
- Top photo extracted from http://byucougars.com/files/users/jbell/sagicor_premier_partners_logo_1.jpg on 1st August 2017 Bottom photo extracted from https://brightcove.hs.llnwd.net/e1/pd/4468173417001/4468173417001_5511272331001_5511272656001-vs.jpg?pubId=4468173417001&videoId=5511272656001 on 1st August 2017