Research Of Consumption Patterns And Wealth Accumulation

Research Of Consumption Patterns And Wealth Accumulation
Research linking consumption patterns and wealth accumulation has focused on the US (Gourinchas and Parker, 2002; Cagetti, 2003). However, given
the large difference in capital to income ratios between the US and UK (Piketty and Zucman, 2014), it is possible that UK wealth accumulation
dynamics differ from those in the US. Hence, the strength and timing of the precautionary and life cycle savings motives in the UK require further
exploration.
However, UK data on wealth are ``seriously incomplete ' ' (Crossley and O 'Dea, 2016) and hence econometric analysis is impossible. This is because
cross–sectional data cannot be used to analyse life cycle consumption behaviour (Banks, Dilnot and Low, 1994) and WAS, the only UK panel dataset on
... Show more content on Helpwriting.net ...
Furthermore, there is a large literature regarding the role of the income distribution (Parker {it et al.}, 2013; Broda and Parker, 2014), liquidity
(Agarwal and Qian, 2014; Kreiner {it et al.}, 2016) and employment status (Japelli and Pistaferri, 2014) in determining the consumption response to
fiscal stimulus. However, few authors consider the role the wealth distribution has to play in determining the efficacy of fiscal policy.
When work has been conducted, it has often yielded counterintuitive results. In particular, Kaplan and Violante (2014) fail to find a strong relationship
between wealth and the marginal propensity to consume out of transitory shocks to income (MPC), contrary to empirical evidence from Japelli and
Pistaferri (2014) that the MPC is strongly negatively related to levels of cash–on–hand. Indeed, recent work by Carroll {it et al.} (2016) estimates that
the MPC is declining in wealth percentile. Consequently, there is no consensus in the literature regarding the effectiveness of wealth–targeted fiscal
policy. Furthermore, no studies have been conducted that examine the relative effectiveness of wealth–targeting and income–targeting. This paper is a
step in addressing these two questions.
Finally, it is common for economists to use existing root–finding
... Get more on HelpWriting.net ...

Implications Of Income Inequality
IMCOME INEQUALITY
Income inequality is the disparity of the income distribution between the rich and the poor within the economy. Orton & Rowlingson, (2007) believes
that income inequality is also linked to poverty, where someone or a household income falls below the national average income which is set by the
government which dictates a person's status. The Gini coefficient is the most common way which is used to measure income inequality
(Fernando,2007). The Gini coefficient measures inequality overall of the society and compares different incomes from all groups. The country's Gini
coefficient is currently at 0.35. If all the income went to that one person and everyone else received nothing, the Gini coefficient would be as an equal
to 1. So, when the income is shared equally, every person gets the same, which then the Gini coefficient would equal to 0. the lower the Gini value the
more equal it is for everyone in society. The Degree of Income Inequality
Sachs (2008) states in his book that inequality is one of the distressing crises that the world has seen over the past 2 decades, even though it has been
around for centuries. The Human development report 2002 shown that in the 1820's, western Europe per capita income was over three greater than
the per capita income of Africa, yet in 1992 it had seen an increase up by 13.2 times. This reflects on a well–known phase that is used by people saying
that "the rich get richer and the poor get poorer". Over time this has shown to be a problem where the gap between the rich and poor is just too big
to be ignored. The gap exits either the because the rich are getting even more richer and the poor are getting poorer. (Slack and Rodrigue 2009) stated
that the coefficient ranges from 0 to 1, which says 0 represents the perfect equality whilst 1 means complete inequality. In some countries around the
world the Gini coefficient ranging from 0.25 to 0.06 (Anon, 2017). Definition Income inequality can happen why two workers are doing the exact
same job in the same workplace but one of them is getting more pay then the other

Final Reflection for Sociology
For this final reflection for Intro to Sociology, I will cover several topics that I learned throughout the course of this class. I will cover topics that I
can relate to as well as those that I can't. Part of the reason this class is so important for students to take is so that we can take the outlook of others
and allow it to possibly change the views that we have on certain topics. Topics such asculture, race and ethnicity, gender stratification, and education
are a part of our daily life, but we get in such a rut of living day to day life without taking in the opinion and outlook of others that we don't know
what we truly feel because we are only one sided. By learning these different ideas and beliefs, we may not feel the way ... Show more content on
Helpwriting.net ...
There are a lot more stay at home fathers now than there were in the last decade and as time goes on, there will be more and more taking up this role.
Education is the social institution through which society provides its members with important knowledge, including basic facts, job skills, and cultural
norms and values (Macionis 406). Today, schooling differs from whether you are living in a highincome

Dualism In Korea
The poverty rate amongst the elders in Korea's especially aging population is very high, it has been a very high contributor to income inequality
over the past few decades . As of OECD reports in 2011 have indicated 49 percent of the population above the age of 65 lived in relative poverty.
The figure in Korea is extremely high compared to the OECD average which is 13 percent. The BOAP was introduced relatively late in 2008 which
covers roughly about 70 percent of the population with the benefit of 97 thousand KRW which is 16 percent of the minimum cost of living in 2014.
Although there is a relative generosity in covering a large number of population for the welfare program, the BOAP has not been able to prevent a
significant rise of elderly poverty rate and the GINI coefficient since 2007 .
In addition to the introduction of BOAP, there was an introduction to the National Pension System (NPS). In 2013, only 29% of the age group 65
and above have benefited from the pension system. The pension coverage was also very small with only 310 thousand KRW which is about $298
per month. Moreover, there is a wide gender gap in its recipients, with 40 percent of men receiving it compared to only 15 percent of women. The
relatively low participants of the NPS scheme reflects its recent introduction in 1989 .
In order to address the issues of dualism in the labor market, the government tried limiting the usage of non–regular workers but also at the same time
endeavored to

Inequality In Australia
Distribution of Income Economic journalist Chelsea Gwynne investigates Australia's distribution of income and its impact on the overall standard of
living. Income distribution sits at the top of the political agenda as Inequality between those with the most and those with the least wealth in Australia
is on the rise. Despite consistent public support for reducing inequality in the distribution of income, the government is seeking to reduce income
support. In fact, in recent months the Liberal government has begun to argue that inequality is not just unavoidable, but also beneficial. Rather than use
the welfare system to redistribute income, the government is seeking to ensure that welfare payments grow at a significantly slower rate than wages...
Show more content on Helpwriting.net ...
Thus inequality may have a generally slowing effect on economic growth (Holmes, 2014). A number of economists have argued that inequality leads to
economic instability. One mechanism by which this happens is that the rich consume a smaller proportion of their income than the poor. They save
money, which people on lower incomes would spend. This leads to a reduction in aggregate demand, which in turn leads to unemployment (Holmes,
2014). In response, governments take measures to stimulate demand, such as lowering interest rates. This feeds into asset bubbles–for example,
unsustainably high housing prices (OANDA,

Microeconomics : Income And The United States
Microeconomics: Income Inequity in the United States No matter which country you would look into whether it's from wealthier to those less
wealthy countries through the eyes of economics, there are bound to be types of inequity within their borders. Inequity is a very crucial problem in
the United States, you would think that our economy here in the states is booming, and the citizens are living life easy or without worry. Life is the
United States isn't as it seems, in fact, Inequity is in fact a big problem even in the United States. Over the years, there has been millions of
Americans that were considered to be in poor or in poverty line that are not able to provide for themselves and their families. We can sadly see those
Americans on the streets, cars or shelters unable to keep–ends meet that are not able to keep a decent paying job. That is why throughout this paper I'll
be discussing why inequity is a big issue in the United States from how income is distributed through causes of income inequality, social status, and
even how the government interventions is trying to alleviate income inequity. What is income inequality? First we must define what exactly income
inequality really is and that is according to Definition of 'Income Inequality' (2015) said to be unequal income distributed to household or individual
across the various participants in an economy. Income inequality is often presented as the percentage of income to a percentage of population. For
example,

An Annotated Bibliography On Household Wealth Essay
Creative Title: An Annotated Bibliography Xie, Yu, and Yongai Jin. "Household Wealth in China." Chinese Sociological Review 47.3 (2015): 203
–229.
Academic Search Complete. Web. 27 Oct. 2015. Xie and Jin examine the level, distribution, and composition of household wealth in contemporary
China. The study reveals that the richest one percent of the population owns over one third of the total national household wealth, while the poorest
twenty five percent owned less than two percent in 2012. Housing assets in China show to be the largest component of household wealth, comprising
seventy percent. The study also discusses how regional disparities and the urban–rural divide play significant roles in the household wealth distribution,
wealth growth rate, and wealth mobility. I plan to use this study as informational background and a look into the state of affairs regarding Chinese
society and the wealth disparity that is present. Gan, Li, et al. "Reducing Inequality: Taking From The Top To Distribute At The Bottom." China
Perspectives 2013.3 (2013): 80–82. Academic Search Complete. Web. 29 Oct. 2015. Gan et al. examine the true scope and detail of the income
disparity present in contemporary Chinese society. This work examines the introduction of government measures, the criticisms and inadequacies of
these supposed measures, other potential solutions that have been proposed, as well as whether or not the Chinese government has the true ability and
willingness to carry out the new

Income and wealth Inequality in Australia Essay
Inequality is present in every economy, but to what extent are income and wealth in Australia unequal and what government polices contravene
income and wealth inequality? Income is defined as money that an individual or business receives in exchange for providing a good or service or
through investing capital, while wealth is a measure of the value of all of the assets of worth owned by a person, community, company or country.
Income and wealth inequality refers to the degree to which income is unevenly distributed among people in an economy. The share of total income
received by different groups measures inequality, this visually represented in theLorenz curve. The line of perfect equality bisects the graph with the
percentage of income ... Show more content on Helpwriting.net ...
This reveals that a relatively small proportion of households have high net worth and a large portion of households have low net worth, concluding with
the simple statement that: The distribution of wealth is more unequal in Australia than the distribution of income.
The disparities accounted for in the distribution of wealth and income tends to reflect wealth that is accumulated during a person's working life and
utilised during retirement. Whilst this sources the foundation of inequality, the distribution of income in Australia is influenced by socio–economic
factors such as gender, age, occupation and ethnicity. Gender is a common inconsistency in various economies, during 2013 average weekly earnings
for males were $1516 while females earned $1250, this is still coherent for males and females in the same occupational categories, and is augmented
for opposite genders in different occupational categories. In terms of ethnicity, it has been recorded that persons born overseas earn more than persons
born in Australia, that non–English speaking backgrounds earn less than English speaking backgrounds and the period of residence in Australia is
proportional to the income earned. However, the lowest income earners in the Australian community are Indigenous Australians and being heavily
reliant on government welfare, earn a substantial loss in income compared to that

The Value Of Enterprise And Trade
Today's economy was founded upon the fundamentals of capitalism and continues to find its strength in the presence of freedom of enterprise and
trade. Regulation and taxes are vital in order to support fairness amongst businesses and to provide funds for the government to develop and maintain
the country's infrastructure. Most companies distribute some of the company's accumulated profits, so that is why it is important to characterize the
distribution under whether it is deductible or not. As there are many different types of distributions, it is necessary for the tax paying entity to understand
the distribution so that each type can be deducted appropriately.Before we can get into what type of distributions that a company ... Show more content
on Helpwriting.net ...
First, the amount of any distribution shall be the amount of money received, plus the fair market value of the other property received (IRS 2016).
Secondly, the amount that is taxable is the portion of a distribution which is a dividend is included in gross income, and that the remaining portion
of the distribution is applied first against the adjusted basis of the stock and then is treated as gain from the sale or exchange of property (IRS 2016).
Thirdly, the basis of the property received in a distribution shall be the fair market value of such property (Cornell 2016). Finally, the special rules
applies to 20 percent corporate shareholder. "For purposes of this subsection, the term "20 percent corporate shareholder" means, with respect to any
distribution, any corporation which owns, stock in the corporation making the distribution possessing at least 20 percent of the total combined voting
power of all classes of stock entitled to vote, or at least 20 percent of the total value of all stock of the distributing corporation (except nonvoting stock
which is limited and preferred as to dividends), but only if, but for this subsection, the distributes corporation would be entitled to a deduction under
section 243 or 245 with respect to such distribution." (Cornell 2016)

Getting Worse in the Distribution of Income
The studies have shown that 62 percent of the world population has a worsening in the distribution of income. Income distribution is one of the reason
economist believe the Samuelsson model is still an hypothesis and have not been able to be proven as more of the world engages in trade. With there
being different ways to measure distribution income most of the data collected is confusing to economist. Data from the World Bank show that 2.8
billion people live below the poverty line. Changes in income of the poor house can be changed by two variables first economic growth and
distribution of income. According to the author there is growing recognition that distribution is important to poverty reduction as well as growth.
Because of this gap in income distribution most economist cannot measure the effect globalization has on a country most country or rank twice with
two different numbers making it hard for economist to measure the growth of a country. Samuelsson says that trade should bring in income helping a
country rise above poverty because globalization can be measured there no way to tell if globalization has a positive effect on country overall growth.
If we take a look at Cross country studies presented by Harrison we see a different take on globalization. It takes a look at the relationship between
poverty, inequality and globalization. Easterly finds that increasing trade integration is associated with Falling inequalities within developed countries
and greater

Effective Treatment Of Hepatitis C
Introduction
Hepatitis C is an inflammatory condition of the liver that ultimately results in cirrhosis consequently leading up to liver cell cancer due to a
blood–borne virus. The infection is usually asymptomatic showing how those who are infected with Hepatitis C are unaware of its presence until the
condition has become potentially life–threatening. The main ways in which the virus is transmitted is from the transfusion of unscreened blood,
improper sterilization of invasive medical devices used in surgery and other internal examinations of the patient and the reuse of syringes by health care
providers for common ailments or by narcotic users. Evidently, Pakistan as the second highest prevalence rate of hepatitis C ranging from ... Show more
content on Helpwriting.net ...
Approach
I will be analysing these ethical issues with the use of my chemistry and economical knowledge. The research question 'An investigation into the
mortality and morbidity of drug pricing from Hepatitis C in Pakistan' mainly uses pharmaceutical sciences to underline and justify the main objectives
of drug pricing whilst identifying the human implications from both perspectives of economics and chemistry. Economical Justification
66% of Pakistan 's population live in rural areas underlying the geographical issues with suffering from Hepatitis C. The geographical consequences
mainly ly with the isolation the rural population have from the productive and thriving urban cities of the country. Individuals are unable to be a part of
an exponentially growing economy as they are unfortunately marked as the less prosperous part of the country. This evidently leads to unemployment.
Unemployment is defined as the people of working age who are without work, available for work and actively seeking employment. This effectively
contributes to the prevalence rate as due to being unemployed people are unable to afford necessities, such as Hepatitis C treatment, since there is no
government system in place in aid of the unemployed. However, if an individual is employed and earning an income, the income may not be sufficient
enough to accommodation an appropriate and successful course of treatment. In order to access treatment, the amount of

Lorenz Curve
4. A.The net gain on social optimal price is when the government establishes the price at a socially optimal level of 10 cents. This causes the
production to decrease, which leads to a decrease in consumer benefits. But on the other hand, the decrease in production will preserve and save the
resources since they don't need as many materials/resources as before. The value of decreasing consumer benefits is less than the value of saving the
resources. B.The net gain on above social optimal price is when the government establishes the price above the socially optimal level of 14 cents. This
causes the production to decline below 35 million kilowatt hours per month, which leads to decreases in consumer benefits. But on the other hand, the
decreases... Show more content on Helpwriting.net ...
The Lorenz is a curve that demonstrates the variation of the distribution of income from a level of perfect equality. An example of such the Lorenz
curve is presented in Figure A–1. In Figure A–1, Point A shows that the bottom 80% of the households earned a 56.3% of total income in 1980. Point
B shows that the share of the total income going to the bottom 80% of the households happened to be lower in 2012 than it was in 1980. The
Lorenz curve would be a straight line only if the income were evenly dispersed for all of the households. 9. In 1996, the Aid to Families with
Dependent children legislation was substituted with the Temporary Assistance for Needy Family. The Temporary Assistance for Needy Family was
a brand new welfare program that gives fixed grants from federal to state government and gave the states the authority to produce and plan their own
welfare program. The Temporary Assistance for Needy Family has five years time limit/period so, for every 5 years, the state government would have
to change the certain percentage of people from the welfare program to work. However, there are few states that have the reduce the time limit/period
to be less than the five years time

Income Inequality Of The United States
The United States is often viewed as a wealthy and stable country, but as shown in 2011, "the richest fifth of American households received about 51.1
percent of total income, while the poorest fifth received about 3.2 percent" (McConnell). There are many sources of income inequality that effect
poverty in the United States and the role that discrimination plays in reducing and increasing wages for different people and how the people of the
United States are affected by it.
The average household income in the United States is, in fact, one of the highest in the world. Unfortunately, does not provide information about income
inequality. There are two ways to measure income inequality: distribution by income category and distribution by quintiles. Distribution by income
category involves looking at the percentages of households in a series of income categories. Distribution of quintiles involves dividing the total number
of households into five equal groups or quintiles and to compare it with the percentage of personal income. The Lorenz Curve is a way to display the
quintile distribution. In a graph showing the Lorenz curve, there is one straight, up–sloping diagonal line that represents a perfectly equal distribution
of income, and a second curve of the actual quintile data that becomes the Lorenz curve. The space in between the two lines represents the amount of
income inequality there is. This information can then be converted into a Gini ratio which is the numerical

What Are The Causes Of Inequality
To understand the causes of inequality one must first know what inequality is. Inequality is the extent to which income is distributed unevenly in a
group of people. It is the disproportionate ownership of resources between different sections of the society. Inequality is typically thought of as
differences between individuals within a population, normally a country, though it can also be considered for smaller or larger populations. Thus it is
important to consider inequality between groups of people, including global inequality between countries, inequality between regions or communities
within a country, and inequality between groups of individuals or households classified according to various criteria (for example gender, class).
Inequality... Show more content on Helpwriting.net ...
For unskilled workers, computers and machinery perform a lot of tasks these workers used to be do. In many jobs, such as packaging and
manufacturing, machinery works even more effectively and efficiently. Hence, jobs involving repetitive tasks have largely been eliminated. Skilled
workers are not immune to the nightmare of losing jobs. The rapid development in artificial intelligence may ultimately allow computers and robots to
perform knowledge–based jobs. The impact of increasing unemployment is stagnant or decreasing wages for most workers, as there is a low demand
for but high supply of labour. A small portion of society, usually the owners of capital, controls an ever
–increasing fraction of the economy. The income
gap between workers who earn by their skills and owners who earn by investing in capital has widened. Although both skilled and unskilled workers
are adversely affected by the technological advance, it seems unskilled workers are subject to worse outcomes. This is because the labour market
may still need skilled workers to use computers and operate the advanced machines. The rightward shift in the demand for skilled labour creates an
increase in the relative wages of the skilled compared to the unskilled workers. Hence, the income gap among workers also has

Equitable Income Inequality
The distribution of income is the manner in which income is divided amongst the members of the economy. A more equitable distribution of
income from work would lead to all individuals in society having a similar quality of life. This equitable distribution of income may be either
positive or negative. Positive factors may include the poor being able to access better education and health care and avoiding the inequality of
opportunity they may face. It also decreases and diminishes the poverty faced by individuals. The negative factors of a more equitable income
include it having an effect on the economy by lowering the incentives for people to study hard and work hard to achieve a higher education and to get
a higher knowledge based job and discourages innovation and people taking risks. Sweden has a fairly equitable distribution of income, its Gini Index
is 23.0 a country with 0.0 would have perfectly equitable income. A Gini index is a representation of the income distribution between a nation's
residents.... Show more content on Helpwriting.net ...
The government currently spends approximately 0.8% of Australias GDP on tertiary education, this is below average world wide, this means that
students in Australia are having to spend and borrow more money to spend on their education. This can be solved by a more equitable income which
will lead to lower income individuals being given a higher income to spend on education and leading to them not having to rely on borrowing. and
health care, therefore increasing their quality of life. If individuals are spending more money on education, it will benefit the economy ITLR and also
lead to a more educated generation. If individuals spend more money on healthcare it will lead to a healthier country with lowered disease rates and
other detrimental health outcomes. These outcome of a more equitable income are beneficial to the economy

The Literature On Equality Dated Back Long Ago
The literature on equality dated back long ago and was more of a statistical issue prior to Rawls' philosophical contribution. The Rawlsian philosophy
was based on providing justice beyond maximizing the civil liberties. His idea – 'difference principle' –was to make people equal by having a set of
institutions that allocate the worst off individuals the maximum level of 'primary goods'. He viewed, in this regard, primary goods as the goods
necessary for the success of any life plan and hence ensuring an equal primary good bundles is a way of making a person responsible for his life plan
choice. The other philosophers like Jensen (1969) and Herrenstein (1971) deduced in their papers that the existence of inequality is due to differential
intelligence of the individuals and hence rendering the society an equal income distribution is merely an imagination. Their views were contradicted by
the other thinkers like Bowles (1973) and Colinsk (1974) who thought of the inequality as an outcome of unequal opportunity. However, it was
Dworkin (1981), Arneson (1989) or Cohen (1989) who introduced the personal responsibility into the literature on equality. Dworkin (1981 a,b) argued
about how lack of internal resources can be overcome by external wealth distribution and introduced responsibility into achieving the equality in the
society. Unlike Rawls, Dworkin emphasized on preferences instead of primary goods and showed that preferences of individuals matter into the welfare

Social Policies And Welfare And Social Issues
Social policies are public policies of which the government uses for welfare and social issues. Welfare, according to American Politics Today, is "the
financial or other assistance provided to individuals by the government, usually based on need" (Bianco 448). These welfare programs play a role in
citizen 's lives, especially those of low income. However, in some instances, they are there to help the wealthy as well, such as bailouts of the financial
sector. As the textbook reads, "the persistence ofpoverty remains the primary motivator for most social policy today" (Bianco 450). The rapid
growth of social policy is proving that the rate of income inequality in the United States is growing at a steady pace. For example, the income
distribution "from 1979 to 2009 the average income of the top 1 percent grew by $700,000 to $1,220,100 (a 133 percent gain), compared to a $2,600
gain to $18,900 (16 percent) for the bottom fifth of the income levels. The wealth gap is even greater: the median networth of U.S. households in 2007
was $120,300, but the median wealth for the top 10 percent was $1.89 million, and this group held 73 percent of that nation 's wealth" (Bianco 450).
The economy in America has an unequal wealth distribution where a small percentage of the population posses most of the wealth in the country,
while the rest of the country has little to spare. This leads to poverty and income inequality. To measure income equality "economists often measure
how much income

Measuring Economic Participation and Social Protection
Gender discrimination has always been a problem that affected our society, where women were and continue to be treated inferior to men and were
downgraded to do domestic work. Although there have been several reforms in trying to lower inequality against women because of the now–known
great importance to the development of society, it still, nonetheless plagues our society. The promotion of gender equality is co–existent with social
protection and the first step to combating gender inequality, while simultaneously combating problems related to poverty and education. Inequality
does not only exist in the form of gender inequality, but also in income distribution as well, where the top quintile of the population consumes far
more than the bottom quintile of the population. The existence of unequal income distribution can potentially lead to aristocracy, in which a few
members or countries have control over most resources and income (Thomas Caroll & Associates, 2013). Dubner and Levitt as cited by Thomas
Caroll and Associates use a classic example of the Black Disciples, in which gang members received a mere $3.30 per hour, with minimum wage
being $5.15 and over half of the income was received by gang leader. The members forfeited the chance of earning the higher income with the
probability of becoming the next gang leader; however 1 of 4 died in their pursuit of becoming gang leaders. This application can be used in real life,
where wealth is concentrated among a wealthy

Is Inequity A Big Problem? The United States?
No matter which country you would look into whether it's from wealthier to those less wealthy countries through the eyes of economics, there are
bound to be types of inequity within their borders. Inequity is a very crucial problem in the United States, you would think that our economy here
in the states is booming, and the citizens are living life easy or without worry. Life is the United States isn't as it seems, in fact, Inequity is in fact a
big problem even in the United States. Over the years, there has been millions of Americans that were considered to be in poor or in poverty line that
are not able to provide for themselves and their families. We can sadly see those Americans on the streets, cars or shelters unable to keep–ends... Show
more content on Helpwriting.net ...
It is often associated with the idea of income "fairness". It is generally considered "unfair" if the rich have a disproportionally larger portion of a
country 's income compared those not so rich in their population. This means in an obvious note, that income spread throughout the United States
is "unfair" in that the rich will get richer, and the poor will stay poor or will have little to no income to spend for basic goods and services. There
are ways to possibly resolve income inequality that I'll be talking about as form of government interventions later on. What is the cause of income
inequality? Rittenberg and Tregarthen (2012) explains that Income inequality in the United States has increased over the last century. Rittenberg and
Tregarthen (2012) have also shared data from the Congressional Budget Office that reveals between 1979 and 2007, the real average household
income also taking into account government transfers and federal taxes that rose 62%. For the top 1% of the population, it grew 275%. For others in
the top 20% of the population, it grew 65%. For the 60% of the population in the middle class, it grew a bit under 40% and for the 20% of the
population at the lowest end of the income distribution, it grew roughly 18%. The data clearly shows that even though the United States is considered
one of the wealthiest countries looking at these numbers it's easy to tell that the citizens are having it

Gdp Is the Best Measure of a Country's Standard of
GDP is the best measure of a country's "standard of living" Discuss
Gross Domestic Product (GDP) is the value of everything produced in the economy for the year. It usually is used to provide economic growth rates
and other important data, it is valued in terms of the cost of all inputs. Gross means total; domestic means it applies to everything produced within the
economy, product means output. Standard of living refers to the wellbeing of the population, this requires a very wide range of data to measure
effectively and I am going to find out how and if we can measure the standard of living and whether GDP is the best at it.
GDP is useful because it is a key measure of economic activity, it is measurable, quantifiable and there is... Show more content on Helpwriting.net ...
It could work because it generates political competition and tries to put the people at the centre instead of outputs like the GDP, it is very crude though
because of the huge amount of things it has to take into account.
Overall I think that GDP is very helpful to find out a rough estimation of how a country's economy is doing at a certain time and how it is
performing compared to other countries but it wasn't designed to show peoples standard of living and it simply doesn't do that. I think that the HDI is
better than GDP because it actually measures health, education and income this is a better judgement of the standard of living because it actually uses
measures that actually involve people. I think that showing the measures of social welfare would be a good place to start because it shows us about
the lives and chances available to the people and we should add percentage of income showing the distribution of wealth, that would give us a good
idea of peoples standard of living and

The Impact Of Income Inequality On Economic Growth
LITERATURE REVIEW The impact of Income Inequality on Economic Growth: A Case study on Nigeria Student Number: P14173106
Supervisor: Helen Solomon Module Leader: Helen Solomon Date: 26th November 2016 Word Count: 1.0 Introduction According to Adam Smith
(1776) in his book the wealth of nations, "no society can surely be flourishing and happy, of which the far greater part of the members are poor and
miserable". Economic growth and income inequality are central inter related facets that explain current trend in global issues. Oxfam (2016)
suggested that 62 of the richest people have the same wealth as the 3.6 billion poorest people. The rich continue to acquire wealth, while the poor
struggle for basic things required for survival like food, access to clean water and shelter. The research question proposed is: "Does income inequality
have an impact on economic growth?". This chapter highlights the key concepts and notions which underlie the subject matter of the study in order to
provide an ideal frame for understanding the relationship between income inequality and economic growth and answering the research question. It will
also look at previous empirical studies carried out by other researchers in this field and identify gaps in the existing literature. 2.0 Theoretical
Framework and Empirical Evidence Inequality is generally referred to unfair distribution of resource among individuals. Inequality can vary from
income, health, gender and wealth.

Income Inequality And The Distribution Of Wealth And Income
Income Inequality
Income inequality is the extent to which income is distributed unevenly in a country, it measures by what extent is the distribution of income within a
country deviating from perfect equality. It is an important measure to determine the fairness in a country and the social outcome in a country such as
the level of corruption, crime rate and poverty. Countries make use of the Lorenz curve to help show the graphical representation of the distribution of
wealth and income. "Income inequality in Canada has increased over the past 20 years. Canada reduced inequality in the 1980s, with the Gini
coefficient reaching a low of 0.281 in 1989" ("Income inequality", 2013, Is Canada becoming more unequal?, para.1). Gini coefficient is a measure of
statistical dispersion intended to represent the income distribution of a nation 's residents, and is the most commonly used measure of inequality. Income
inequality rose in the 1990s, but has remained around 0.32 in the 2000s.
Income inequality is quite important when deciding the level of development of a country. As a country becomes more developed, the income and
wealth distribution of a country is questioned. Income inequality shows that a country is becoming more developed but brings the issue of the social
issues (for example corruption). Government in Canada over the years have increased personal income taxes and government transfers (such as social
assistance, unemployment insurance, old age security, and child

Economic Effects Of Income Inequality In South Korea
Income Inequality in South Korea
During past several years, South Korea's economic growth is very rapid especially during the early 1960s to the late 1990s that the South Korea
became a part of the Asian Tigers or Asian Dragons is used for referencing to the highly free and developed economies of Singapore, Hong Kong,
South Korea, and Taiwan. The South Korea is the one of the fastest growth developed country in 2000s. Their gross domestic volume increased
rapidly around 8 percents per year from US$2.7 billion to US$230 billion in 1962 and 1989 respectively. The rapid growth of South Korea was
stimulated by technological change and market–oriented reform over the last two decades. For these reasons, the family income of Korean has
increased income equality and escape from being a low income country. As Choo (1979, 1982, 1984) concludes that income inequality in early 80s
has improved compared to mid 70s, but still worse than the 60s and early 70s.
Figure1. South Korea GDP Per Capita in 1970–2010 (KRW Billion) ... Show more content on Helpwriting.net ...
To estimate that income distribution, there are many determinants that have examined by many people such as Choo (1978), Kim and Ahn (1987), Ahh
(1992). From these estimations, we can examine the level of income inequality by using various methods. From the topic, That why I'm interested in
the income inequality in South Korea during crisis(1997) among income groups compare to mid – 1970s to see how much the level of income
inequality change by looking at the direction of these indicators the data from income shares, gini coefficient, headcount index, and mean consumption
per month in South

Index Of Attitudes Toward Income Inequality
To ensure that this effect was not due to demographic factors, I ran a linear regression model with an index of attitudes towards income inequality. The
index is comprised of responses to three survey questions. The first survey question asks, after respondents are shown a graph charting the top and
bottom twentieth percentiles of average household income over the last forty years, "It is good, bad, or neither good nor bad that the difference
between the top and the bottom incomes has changed in this way?" The second asks, "Do you favor, oppose, or neither favor nor oppose the
government trying to make this income difference smaller?" It is notable that this question garners much less support than questions asking whether
respondents support

Inequality in Australia Essay
Over the last two decades the Australian population has faced a number of economic instabilities that has seen the gap between the 'haves' and 'have
nots' increase. To determine who the 'haves' and 'have nots' are an in–depth investigation will be performed examining the circumstances under which
the gap can be manipulated. The economic wellbeing of individuals is largely determined by their command over economic resources (ABS, 2009).
The wellbeing of individuals who are classified as 'haves' are usually people who are asset rich, contain bonds, shares and are fairly affluent. The
wellbeing of individuals who are classified as 'have nots' are usually the working poor, who have little assets and little investments i.e. bonds. These...
Show more content on Helpwriting.net ...
Australia is a market economy which distributes income to factors of production– land, labour, capital and enterprise. Income as defined by L.
Kirkwood et al as the inflow of money to one sector of an economy from another. The distribution of income in the economy is in the form of
wages, salaries, rent, interests and profit, all which are distributed by the factors of production (L. Kirkwood et al: 2006). Unlike income, wealth
is the stock of goods and assets owned by individuals and the nation as a whole at a given period of time L. Kirkwood et al: 2006). As well as
possessions individuals can also obtain wealth through education or obtaining a particular skill. It is with wages and salaries that determine the
income and the next most important category government pensions and cash benefits L. Kirkwood et al: 2006). In the 21st century the unemployed
or sole parent households become reliant on income support and non wage benefits L. Kirkwood et al: 2006). In 2002, 8.6 per cent of GDP was
spent on social assistance benefits in cash to Australian residents L. Kirkwood et al: 2006). Total welfare expenditure in 2005–06 was $90.2 billion, of
which $61.3 billion (68%) was cash benefits and $28.9 billion (32%) benefits–in–kind (welfare services). Spending on welfare services in 2005–06 was
3.0% of GDP or $1,404 per person (Welfare, 2011).
The way in which governments can examine inequality is through the use of a Lorenz curve. This Lorenz curve indicates that

Income Inequality
Income inequality Name Date Abstract In any given population, there is a difference between what people within the population earn. The uneven
distribution of income in any given population is income inequality. In order for there to be income, there has to be several sources of income. These
sources of income may be combinational or independent per person receiving the income. Income may result from wages, rent, bank account interests,
salaries or even profits made in business transactions ( Stiglitz, 2012). In his hypothesis, Karl Marx foresaw income inequality in a capitalistic as a
major problem that would lead to an economic evolution. The main reason he foresaw an evolution was due to the recurrent nature of income... Show
Classification of what causes inequality lies in two different classes in a broader sense, which are; individual causes, or external conditions leading to
income inequality ( Rousseau, 1992). In simpler wording, the causes of inequality lie within endogenous causes and exogenous conditions. Endogenous
causes of income inequality Endogenous causes are those causes that are unique and attached to an individual's characteristic. These characteristics lie
in the ability of an individual to produce more than other individuals hence earning more than other individuals in the same market. These
characteristics include better qualifications in carrying out a given job or other uncommon attributes that make the individual more valuable in the
market place. The most common individualistic abilities sought after in the market include intelligence, charisma, personality and physical agility. An
example of an individualistic attribute in use is intelligence, in the modern market, IQ tests used in measuring a person's intelligence directly reflects on
the earning capability of that person. A person with a very high intelligence quotient is likely to end up making more money in the job market as
opposed to a person with a poor intelligence quotient. Another endogenous cause for income inequality is individualistic

Poverty Inequality And Economic Growth
The purpose of this essay is to investigate the extent in which poverty, inequality and economic growth are related. These three dimensions are
regularly perceived as indices of the complex and multidimensional concept of 'economic development'. This term is not black and white however: it
is a concept that is more than just merely income analysis. Poverty can be broken down into two separate definitions: absolute and relative. Absolute
poverty describes the position of an individual who is living on less than $2 per day and is incapable of obtaining the 'minimum levels of income, food,
clothing healthcare, shelter and other essentials' (Todaro & Smith, 2015). Relative poverty on the other hand compares individuals' means of living in
different societies. Subsequently, levels of relative poverty will differ from country to country, for example, the United Kingdom and China. Inequality
represents the uneven distribution of income within a region or country. Finally, economic growth is typically measured by gross national income
(GNI). GNI is both the total domestic and foreign output declared by the inhabitants of a country (Todaro & Smith, 2015). If there is an increase in the
output of a nation, this growth should cause GDP per capita to increase simultaneously. With this expansion in incomes, individuals theoretically should
move out of the absolute poverty level of $1.25 per day. Although this would hypothetically occur, these parties may only emerge from the 'poverty

Redistribution Of Wealth
Redistribution of Wealth
American citizens who achieve success do so by earning their income through hard work and determination. These are the kind of Americans who
should be the role–models for those many citizens who choose to do nothing to earn money and who are unemployed collecting some sort of assistance
from the government. The United States is a fast paced, highly technical, and ever changing country that has many policies, regulations, and programs to
help those who choose not to help themselves. Unfortunately, many who are receiving aid or assistance do little to benefit themselves once they
become a part of the welfare system, because they have no motivation to do anything. This may be due to the threat of losing the benefits they ... Show
An example of this specific type of failure would be a well–known incident during the late 1930's, the Ukrainian Famine. This was also known as the
Holodomor, meaning "death by hunger," which was led by Joseph Stalin, the head of the Soviet Union at the time (Ukraine Famine). The Soviet Union
began confiscating much of the wealthy, self–sufficient, farmer's hard produced crops and earnings, to eliminate all independent farm–holdings and
create shared farm units. Many died and many others fled because of starvation, causing a great amount of poverty throughout the 1930's (Sowell).
This is also similar to what happened in Cuba under the rule of Fidel Castro. Under his terms and confiscatory regimes the natives fled in hope to find
a better life with more job opportunities and a less commandeering economy

Potential Solutions For High Youth Unemployment
Question How can the high levels of What are potential solutions for high youth unemployment in Australia be solved, and what are its implications on
inequality for young Australians? I.Introduction High levels of unemployment have many negative effects, including rising inequality, which is a
major issue in developed economies such as Australia (REF). Income, and wealth inequality are the two main types of inequality examined in
economics. Income Distribution Income distribution refers to how the total income of a nation is distributed between the population. An economy with
high income inequality will have the majority of the income distributed to a minority of the population (REF). Income distribution can be graphically
illustrated... Show more content on Helpwriting.net ...
Economies attempt to maintain unemployment as low as economically sustainable (referred to as the natural rate of unemployment), because high
unemployment creates several issues in an economy (REF). Both unemployment and underemployment are heavily linked to high levels of inequality,
as such young Australians are more likely to experience inequality (REF). The focus of this inquiry will be on inequality and unemployment in young
Australians. II.Issues High unemployment (and underemployment) have several costs on Australian society. One of the key impacts of high
unemployment are the heightened levels of inequality (REF). As young Australians experience higher unemployment (and underemployment) than the
average Australian, they also experience significantly higher levels of inequality (REF). Economy High levels of youth unemployment (and
underemployment), leads to the economy functioning inefficiently (functioning below the Production Possibility Frontier [PPF]) (REF). Furthermore,
a high rate of unemployment means that young Australians lack the appropriate skills required in the workforce, thus more time and money is required
from the employer to train the young Australians to be able to participate in the workplace (REF). High levels of youth unemployment result in
individuals possessing lower disposable incomes, consequently there is lower aggregate demand. As demand for labour is derived demand, the high
levels of youth unemployment will result

Socio Economic Status And Health
Introduction Social stratification is one of the tenets of sociological inquiry, and the association between socio–economic status and health could be
viewed as a classical problem in medical sociology that dates back the mid–19th century works of Friedrich Engels, Rudolf Wirchow and Salvador
Allende. These scholars writing during the early years of capitalism (Salvador Allende is an exception as to this trend as he studied the social origins
of illness in the later times and a different geographical context) noted that the structures of oppression and features of urban life were major
contributors to the spread of infectious diseases (Waitzkin 2005). Sensitivity to social origins of illness were pushed aside during much of the first half
of the 20th century, which marked the hegemony of the biomedical models of disease etiology, yet the issue of socio–economic inequalities in health
re–emerged in the 1960s after the publication of the Black Report in England and the book entitled "Differential Mortality in the United States: A
Study in Socioeconomic Inequality" by Evelyn Kitagawa and Philip Hauser in the United States. The Black Report project was commission by the
Labor government of the 1970s and its goal was to classify the British population into 6 social classes based on the occupation of the household head
to in order to assess the evidence of inequalities in health. The results suggested that the risk of mortality in the lowest class was twice as high relative
to the

Domestic Inequalities in The USA and Denmark Essay
Societies and their governments have developed different policy approaches to addressing domestic inequality. Compare and contrast two different
countries and evaluate the effectiveness of their key policy measures in addressing inequality.
It is a commonly accepted that inequality is increasing throughout the globe, with startling statistics such as the recent Oxfam report indicating that the
richest 85 people in the world own more wealth than the poorest 3.5 billion people(Oxfam Australia Media, 2014). Inequality is thought of as
disparities or gaps, such as the distance between a low income and a high income household, or the ratio of their incomes (Divided We Stand, 2011).
Domestic inequality refers to inequality within a country and ... Show more content on Helpwriting.net ...
Wealth and assets refer to the "stock" of an individual or household, inequality if often generated from inherited wealth. Physical environment affects
inequality through access and availability to natural resources, raw materials and the natural climatic factors that may enhance or disadvantage, leading
to inequality.
Although different societies have varying perceptions of what is an acceptable level of equity, it is generally accepted that inequality has an impact on
key social determinants such as health, wellbeing, political trust and violence. Wilkinson and Pickett (2009) highlight the social costs of inequality on a
whole range of aspects of our lives. Wilkinson and Pickett (2009) argue that if inequality were reduced, there would be significant reductions in mental
illness, murder rates, imprisonment and an improvement in social mobility (Wilkinson and Pickett, 2009).
Image: Index of health and social factors – life expectancy; maths and literacy; infant mortality; homicides; imprisonment; teenage births; trust; obesity;
mental illness, including drug and alcohol addiction; and social mobility – relative to income inequality. (Wilkinson and Pickett, 2009).
Domestic inequality is most commonly measured using the Gini coefficient that varies between 1 and 0. A coefficient of 1 implies inequality is

How Companies Handle Nonliquidating Distributions
This paper explores the different types of nonliquidating distributions and how they distributed to shareholder in a corporation from research collected
online (Internet) and offline (non–Internet). The online research was done using sites including the IRS website, ProQuest and EBSCOhost. The
majority of the offline was done using the textbook McGraw–Hill's Taxation of Business Entities: 2016 Edition. The different types of nonliquidating
distributions includes property distribution, dividend from earnings and profits, constructive dividends, stock redemptions, and partial liquidation.
Form 1099–DIV will be shown in the appendix to show the distribution of dividend to shareholders. The research indicated that each type of
nonliquidating distribution is important to the corporation. The purpose of this paper is to give a general overview of how companies handle
nonliquidating distributions throughout the year and to provide an explanation of the distributions. Nonliquidating Distributions Today's economy was
founded upon the fundamentals of capitalism and continues to find its strength in the presence of freedom of enterprise and trade. Regulation and taxes
are vital in order to support fairness amongst businesses and to provide funds for the government to develop and maintain the country's infrastructure.
Most companies distribute some of the company's accumulated profits, so that is why it is important to characterize the distribution under whether it

The Politics Of Preventable Deaths : Local Spending,...
Reaction Paper 3.
The Politics of Preventable Deaths: Local Spending, Income Inequality, and Premature Mortality in US Cities. The article focuses on juxtaposing
income inequality and premature mortality rate, with several variables. These are: "percentage in poverty", "percentage non–Hispanic Black", "Income
inequality measured by the Gini coefficient", "city financial expenditures" "mayoral type" and "party affiliation" (Ronzio, Pamuk, Squires 176). In their
survey of the existing literature, the researchers sought to reveal connections between a high level of income inequality within a community, and an
elevated level of mortality. In so doing, they attempted to shed light on "geopolitical disparities in health." (Ronzio, Pamuk, Squires 175). In terms of
methodology, the researchers employed data (on persons aged 75 and below) from the Census bureau, to represent population size and race. Data on
mortality was obtained from the CDC's interactive database, which can be queried for all causes of death, location, external injuries, etc. They chose ten
circumstances surrounding a given person's death and catalogued their frequency in 138 cities. Those most noteworthy are "(1) motor vehicle
accidents, ... (2) all other accidents, ... (5) suicide, ... (6) homicide and legal intervention,.." (176).
The researchers analyzed city spending, using data made available by The Office of Social and Economic Data Analysis (OSEDA). They surveyed all
spending on public services,

The Pros And Cons Of Progressive Tax
The reason why progressive taxation is considered fairer and why flat taxation policy is avoided is because the people with lower income have lower
ability to pay and the major part of their income is spent on necessities, a flat taxation policy would burden them more. Both the taxation policy have
their pros and cons. A progressivetax shifts the burden on the people with higher income, it reduces the amount that the people with lower income pay.
Because it reduces the burden of tax it results in reduction for the need of subsidies. Meanwhile a flat taxation system reduces the tax burden on people
with high income and gives them an opportunity to further increase their investment. Several reasons can be given to justify progressive taxation
policy over flat taxation policy. One reason is that those who earn more can afford to pay more, without having to curtail their standard of living or in
any way reducing their chances of prospering Also another important justification is that the small businesses find it difficult and struggle more
compared to the big ones and hence burdening them with large amount of tax will ... Show more content on Helpwriting.net ...
For example, economists Thomas Piketty and Emmanuel Saez wrote that decreased progressiveness in US tax policy in the post World War II era has
increased income inequality by enabling the wealthy greater access to capital.[14] Conversely, a report published by the OECD in 2008 presented
empirical research showing a negative relationship between the progressivity of taxes and economic growth.[15] Describing the research, William
McBride, a staff writer with the Tax Foundation, stated that progressivity can undermine investment, risk–taking, entrepreneurship, and productivity
because high–income earners tend to do much of the saving, investing, risk–taking, and high–productivity

Reasons For Wealth And Income Inequality
This report explores the reasons for wealth and income inequality in Canada, as well as the positive and negative effects it has on society. The report
goes into detail on how job availability, education, immigration and market forces affect the distribution of income and wealth. The purpose of the
report is to evaluate the significance of these effects, discuss why this inequality is a critical issue and suggest possible solutions to reduce the negative
impacts on society. The report describes trends in income and wealth inequality over time. Within these trends, the effects on the health, criminal
behavior and financial stability of Canadians, and the economy are analyzed. Additionally, the report examines opposing opinions that argue... Show
For example, in a hierarchical structure, there are a greater amount of lower level jobs compared to high–level executive roles. In this case, there are
more employees with low–income positions than employees in high–income positions. In May of 2016, Statistics Canada conducted a study that
showed that the majority of in–demand jobs in Canada were considered low paying positions (Statistics Canada, 2016). For example, Figure 1 shows
that of the 353 000 job vacancies in Canada, 50 000 of these were in either retail salespeople or food counter worker position (Statistics Canada,
2016). Since there are more available jobs in positions that receive lower incomes, this inevitably results in more people earning less which widens the
income gap. Education The amount of education received is highly correlated with income level. Generally, people who have more years of education
earn more money than those with less education. For example, in 2015, more than two–thirds of the top one percent of income earners, 54.6 percent of
the top five percent of income earners and 50.3 percent of the top ten percent of income earners held a university degree. However, only 20.9 percent
of the total Canadian population over 15 years old held a university degree which shows the direct correlation with high income and education
(Statistics Canada, 2017). Furthermore, currently within the top ten percent of income earners, one in ten of those have a

Theu.s. Supreme Court Justice And Lived From Post World...
"We can either have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both." This is a
compelling quote spoken by Louis Brandeis, who was U.S. Supreme Court Justice and lived from 1856 to 1941. His words illustrate the ever–growing
issue of inequality that has existed in this country for many years. Being aware of and understanding the changing rates of income inequality in the
U.S throughout history is crucial in order to progress by making positive changes in today's society. Historically, there have been many instances
where the incomes of individuals have fluctuated and caused great changes to the nation, especially post World War II period until the present day.
The income share of the wealthiest 1% of Americans was the same in 2006 as it was in 1917 (Jansson, 2012, p.45). The years from the end of World
War II into the 1970s were ones of substantial economic growth. In summary, the period from post–World War II until about the late 1960's, income
inequality was not as great as it is today and was more steady, but it still existed and greatly influenced the income inequality in present day America.
Beginning in the 1970s, income growth for households in the middle and lower classes decreased, while incomes at the top continued to increase
(Stone et al., 2015). Overall, since 1947, the Gini coefficient, which is what the U.S Census Bureau uses to measure income distribution inequality, rose
from 5% to

Income Inequality Research Paper
Economic inequality refers to how economic metrics are distributed among individuals in a group, among groups in a population, or among countries.
Economists generally think of three metrics of economic disparity: wealth, income, and consumption.
Some studies have emphasized inequality as a growing social problem. Too much inequality can be destructive, because income inequality and wealth
concentration can hinder long term growth. Early statistical studies comparing inequality to economic growth had been inconclusive, There are various
numerical indices for measuring economic inequality. A widely used one is the Gini coefficient, but there are also many other methods.
Measurement concepts
Economists generally think of three metrics of economic disparity: wealth, income, and ... Show more content on Helpwriting.net ...
annual wages, including wages from part–time work or work during only part of the year.
Individual earnings inequality among all workers – Includes the self–employed.
Individual earnings inequality among the entire working–age population – Includes those who are inactive, e.g. students, unemployed, early pensioners,
etc.
Household earnings inequality – Includes the earnings of all household members.
Household market income inequality – Includes incomes from capital, savings and private transfers.
Household disposable income inequality – Includes public cash transfers received and direct taxes paid.
Household adjusted disposable income inequality – Includes publicly provided services.
There are many challenges in comparing data between economies, or in a single economy in different years. Examples of challenges include:
Data can be based on joint taxation of couples or individual taxation .
Changes in the structure of households can play an important role. Single–headed households in OECD countries have risen from an average of 15%
in the late 1980s to 20% in the mid–2000s, resulting in higher

Examples Of Lorenz Curve
Lorenze Curve
The Lorenz curve originated from the early part of the twentiteth century when Max Otto Lorenz published a paper in 1905 in an American statistical
journal outlining the technique which was to bear his name. However, it was the work on poverty and income inequality by Sir Tony Atkinson during
the 1970s that led to the popular dissemination and development of the original work of Lorenz.
The Lorenz curve can be explained as an extension of the ogive that is used in economics to show the distribution of income or wealth among the
population. It is a grapgh of cumulative percentage wealth, income or some other measure of wealth , against cumulative percentage of population. For
instance, we can use this curve to determine the fairness ... Show more content on Helpwriting.net ...
The standard framework will be developed in four stages.
First, we convert the wealth into percentages and accumulate them to get the cumulative percentage of wealth. We also convert the population also into
percentages and accumulate them to get the cumulative percentage of population. You can skip this step if all these have been provided with the
question.
Next, we draw a set of Axis in which the cumulative percentage of wealth is measured along the Y–axis while the cumulative percentage of household
is measured along the X–axis. Usually the graph's axes are closed off to from a box.
We then assume that we live in a truly equal society. If this were the case, the relationship will be such that as we move along the x–axis, each 10
percent of household would own additional 10 percent of wealth. In this case, the line we would be a straight line emanating from the origin Point
(0,0) to Point (100,100). This line is known as the line of absolute equality.
Finally, Plot the cumulative percentage of population against cumulative percentage of wealth. In this case, the line will bow away from the line of
absolute equality. The more unequal the society is, the further it will deviate away from the line of absolute

Canadian Income Inequality And Its Impact
Canadian Income Inequality and Its Impact Sarah Pitre – 100 511 731 University of Ontario Institute of Technology Canada has always taken great
pride in its health care system. Publicly funded, Medicare has helped many, but has also aided in masking one of this country's largest growing
problems. Income inequality is highly prevalent throughout Canada, affecting the health of its citizens, and over–burdening its health care system. The
growing gap between incomes is largely in part to the economic neoliberalism taking place within Canada. The stress placed on lower and middle
income families through various social determents of health is taking its toll on society and its individuals. The oppressed state of undermined... Show
This income inequality started with Canada's most recent recession, but as we left this recession income inequality continued to rise. The Gini
coefficient is the most widely used measure of inequality, comparing the dispersion of income throughout a nations citizens. Over the past few years
the Canadian Gini coefficient has been steadily increasing. In a study completed by Picot, G and Hou, F of Statistics Canada it was found that
"Income inequality typically rises in recessions, as it did in the early 1980s and 1990s, and therefore might be expected to fall in economic expansions.
But this did not occur in the late 1990s' expansion, and this period instead displayed the largest rise income inequality in the past three decades." This
rise in income inequality continues to burden Canadian residents, increasing social determents of health within the country. The government has placed
the responsibilities of housing, child care, education, retirement and much more on the individual. With all of the stress and responsibility placed on
individuals, the Canadian government continues to make cuts to public expenditure on government aids. Depriving citizens of any safety nets and
blaming them for being unable to acquire these underfunded social services. All of this stress has a significant impact on one's overall health and
wellness. From cancer to child mortality, nearly every

Research Of Consumption Patterns And Wealth Accumulation

Recommended

Recommended

More Related Content

More from Yolanda Jenkins

More from Yolanda Jenkins (20)

Recently uploaded

Recently uploaded (20)

Research Of Consumption Patterns And Wealth Accumulation