FACTOID # 12: It's not the government they hate: Washington DC has the highest number of hate crimes per capita in the US.
 
 Home   Encyclopedia   Statistics   States A-Z   Flags   Maps   FAQ   About 
   
 
WHAT'S NEW
 

SEARCH ALL

FACTS & STATISTICS    Advanced view

Search encyclopedia, statistics and forums:

 

 

(* = Graphable)

 

 


Encyclopedia > Economic inequality
Differences in national income equality around the world as measured by the national Gini coefficient. The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with perfect inequality (where one person has all the income, and everyone else has zero income). Countries in red tones have societies with more income inequality than those in green tones.      < 0.25      0.25 - 0.29      0.30 - 0.34      0.35 - 0.39      0.40 - 0.44      0.45 - 0.49      0.50 - 0.54      0.55 - 0.59      > 0.60      N.A.
Differences in national income equality around the world as measured by the national Gini coefficient. The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with perfect inequality (where one person has all the income, and everyone else has zero income). Countries in red tones have societies with more income inequality than those in green tones.      < 0.25      0.25 - 0.29      0.30 - 0.34      0.35 - 0.39      0.40 - 0.44      0.45 - 0.49      0.50 - 0.54      0.55 - 0.59      > 0.60      N.A.

Economic inequality refers to disparities in the distribution of economic assets and income. The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among nations. Economic Inequality generally refers to equality of outcome, and is related to the idea of equality of opportunity. Image File history File links Download high resolution version (1357x628, 31 KB) File links The following pages link to this file: Gini coefficient ... Image File history File links Download high resolution version (1357x628, 31 KB) File links The following pages link to this file: Gini coefficient ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... Economics (deriving from the Greek words οίκω [okos], house, and νέμω [nemo], rules hence household management) is the social science that studies the allocation of scarce resources to satisfy unlimited wants. ... In business and accounting an asset is anything owned, whether in possession or by right to take possession, by a person or a group acting together, e. ... Income, generally defined, is the money that is received as a result of the normal business activities of an individual or a business. ... Per capita income ratio (PPP) around the world in the year 2000. ... This article or section does not cite its references or sources. ... Equal opportunity is a descriptive term for an approach intended to give equal access to an environment or benefits, such as education, employment, health care, or social welfare to all, often with emphasis on members of various social groups which might have at some time suffered from discrimination. ...


Economic inequality has existed in a wide range of societies and historical periods; its nature, cause and importance are open to broad debate. A country's economic structure or system (for example, capitalism or socialism), ongoing or past wars, and differences in individuals' abilities to create wealth are all involved in the creation of economic inequality. For other uses, see Capitalism (disambiguation). ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subjfuck grapesect to control by the community[1] for the purposes of increasing social and economic equality and cooperation. ...


There are various Numerical indexes for measuring economic inequality. Inequality is most often measured using the Gini coefficient, but there are also many other methods. In economics and finance an index (for example a price index, a stockmarket index) is a benchmark of activity, performance or any evolution in general. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... Income inequality metrics or income distribution metrics are techniques used by economists to measure the distribution of income among the participants in a particular economy, such as that of a specific country or of the world in general. ...


Economic inequality among different individuals or social groups is best measured within a single country. This is because country-specific factors tend to obscure inter-country comparisons of individuals' incomes. A single nation will have more or less inequality depending on the social and economic structure of that country.

Contents

Causes of inequality

There are many reasons for economic inequality within societies. These causes are often inter-related, non-linear, and complex. Acknowledged factors that impact economic inequality include the labour market, innate ability, education, race, gender, culture, wealth condensation, and development patterns.


Unequal distribution of resources

A person cannot decide where she or he is born, or how poor or wealthy their environment is. In order to enjoy wealth, different amounts of effort are required from different people. This is one of the major reasons for economic inequality.


Children and Families

The suffering of children living in poverty may stem from a lack of resources (food, healthcare, etc.) and a lack of adequate care as their parents may be working long hours to try to make ends meet. The United States Government has been dealing with this issue in a variety of ways. Before the Child Saving Movement began and welfare as we know it today was being born, children were removed from homes simply because their parents were poor. In the late 1800's and early 1900's the idea of Family preservation was introduced. This movement was dedicated to keeping children with their parents and out of institutions. Family Preservation was the movement to help keep children at home with their families rather than in foster homes or institutions. ...


The labour market

A poster printed by the Industrial Workers of the World, dramatising economic inequality under capitalism and aiming to gain support for Industrial unionism.
A poster printed by the Industrial Workers of the World, dramatising economic inequality under capitalism and aiming to gain support for Industrial unionism.

A major cause of economic inequality within modern market economies is the determination of wages by the market, provided, that this market is a free market ruled only by the law of supply and demand. In this view, inequality is caused by the differences in the supply and demand for different types of work. Image File history File links Download high-resolution version (700x866, 418 KB) A 1911 Industrial Worker publication advocating industrial unionism. ... Image File history File links Download high-resolution version (700x866, 418 KB) A 1911 Industrial Worker publication advocating industrial unionism. ... The Industrial Workers of the World (IWW or the Wobblies) is an international union currently headquartered in Cincinnati, Ohio, USA. At its peak in 1923 the organization claimed some 100,000 members in good standing, and could marshal the support of perhaps 300,000 workers. ... For other uses, see Capitalism (disambiguation). ... Industrial unionism is a labor union organizing method through which all workers in the same industry are organized into the same union — regardless of skill or trade — thus giving workers in one industry, or in all industries, more leverage in bargaining and in strike situations. ... A market economy (also called a free market economy or a free enterprise economy) is an economic system in which the production and distribution of goods and services take place through the mechanism of free markets guided by a free price system. ... Labour economics seeks to understand the functioning of the market for labour. ... The supply and demand model describes how prices vary as a result of a balance between product availability at each price (supply) and the desires of those with purchasing power at each price (demand). ...


A job where there are many willing workers (high supply) but only a small number of positions (low demand) will result in a low wage for that job. This is because competition between workers drives down the wage. An example of this would be low-skill jobs such as dish-washing or customer service. Because of the persistence of unemployment in market economies and the fact that these jobs require very little skill results in a very high supply of willing workers. Competition amongst workers tend to drive down the wage since if any one worker demands a higher wage the employer can simply hire another employee at an equally low wage. A wage is a compensation which workers receive in exchange for their labor. ... Competition is the act of striving against others for the purpose of achieving gain, such as income, pride, amusement, or dominance. ...


A job where there are few willing workers (low supply) but a large demand for the skills these workers have will results in high wages for that job. This is because competition between employers will drive up the wage. An example of this would be high-skill jobs such as engineers, professional athletes, or capable CEOs. Competition amongst employers tend to drive up wages since if any one employer demands a low wage, the worker can simply quit and easily find a new job at a higher wage.


While the above examples tend to identify skill with high demand and wages, this is not necessarily the case. For example, highly skilled computer programmers in western countries have seen their wages suppressed by competition from computer programmers in India who are willing to accept a lower wage.


The final results amongst these supply and demand interactions is a gradation of different wages representing income inequality within society.


Innate ability

Many people believe that there is a correlation between differences in innate ability, such as intelligence, strength, or charisma, and an individual's wealth. Relating these innate abilities back to the labour market suggests that such abilities are in high demand relative to their supply and hence play a large role in increasing the wage of those who have them. Contrariwise, such innate abilities might also affect an individuals ability to operate within society in general, regardless of the labour market.


Various studies have been conducted on the correlation between IQ scores and wealth/income. The book titled "IQ and the Wealth of Nations", written by Dr. Richard Lynn, examines this relationship with limited success; other peer-reviewed research papers have also been criticised harshly. Without further research on the topic, incorporating statistical models that are universally accepted, it is fairly difficult to come towards an objective conclusion regarding any relationship between intelligence and wealth or income.. IQ redirects here; for other uses of that term, see IQ (disambiguation). ... IQ and the Wealth of Nations IQ and the Wealth of Nations is a controversial 2002 book by Dr. Richard Lynn, Professor Emeritus of Psychology at the University of Ulster, Northern Ireland, and Dr. Tatu Vanhanen, Professor Emeritus of Political Science at the University of Tampere, Tampere, Finland. ... Richard Lynn (born 1930) is a British Professor Emeritus of Psychology and a leading scholar of racial and ethnic differences,[1] known for his work on intelligence and differential psychology. ...


Education

One important factor in the creation of inequality is variation in individuals' access to education. Education, especially in an area where there is a high demand for workers, creates high wages for those with this education. As a result, those who are unable to afford an education generally receive much lower wages. Many economists believe that a major reason the world has experienced increasing levels of inequality since the 1980s is an increase in the demand for highly skilled workers in high-tech industries. They believe that this has resulted in an increase in wages for those with an education, but has not increased the wages of those without an education, leading to greater inequality.


Gender, race, and culture

The existence of different genders, races and cultures within a society is also thought to contribute to economic inequality. Some psychologists such as Richard Lynn argue that there are innate group differences in ability that are partially responsible for producing race and gender group differences in wealth (see also race and intelligence, sex and intelligence) though this assertion is highly controversial. Gender in common usage refers to the sexual distinction between male and female. ... For other uses, see Race (disambiguation). ... For other uses, see Culture (disambiguation). ... Richard Lynn (born 1930) is a British Professor Emeritus of Psychology and a leading scholar of racial and ethnic differences,[1] known for his work on intelligence and differential psychology. ... The study of race and intelligence is the controversial study of how human intellectual capacities may vary among the different population groups commonly known as races. ... Sex and intelligence research investigates differences in the distributions of cognitive skills between men and women. ...


The idea of the gender gap tries to explain differences in income between genders. Culture and religion are thought to play a role in creating inequality by either encouraging or discouraging wealth-acquiring behavior, and by providing a basis for discrimination. In many countries individuals belonging to certain racial and ethnic minorities are more likely to be poor. Proposed causes include cultural differences amongst different races, an educational achievement gap, and racism. Gender gap may refer to: Gender differences in a general psycho-social context; Income disparity of females vs. ... For other uses, see Culture (disambiguation). ... This box:      Most broadly, discrimination is the discernment of qualities and rejection of subjects with undesirable qualities. ... The word culture, from the Latin colo, -ere, with its root meaning to cultivate, generally refers to patterns of human activity and the symbolic structures that give such activity significance. ... An achievement gap refers to the observed disparity on a number of educational measures between the performance of groups of students, especially groups defined by gender, race/ethnicity, and socioeconomic status. ... This box:      Racism has many definitions, the most common and widely accepted is that members of one race are intrinsically superior or inferior to members of other races. ...


Development patterns

A stylized Kuznets curve

Main article: Kuznets curve Image File history File links Size of this preview: 800 × 491 pixelsFull resolution (977 × 600 pixel, file size: 15 KB, MIME type: image/png) File historyClick on a date/time to view the file as it appeared at that time. ... Image File history File links Size of this preview: 800 × 491 pixelsFull resolution (977 × 600 pixel, file size: 15 KB, MIME type: image/png) File historyClick on a date/time to view the file as it appeared at that time. ... Kuznets curve is the graphical representation of Simon Kuznetss theory (Kuznets hypothesis) that economic inequality increases over time, then at a critical point begins to decrease. ...


Simon Kuznets argued that levels of economic inequality are in large part the result of stages of development. Kuznets saw a curve-like relationship between level of income and inequality, now known as Kuznets curve. According to Kuznet, countries with low levels of development have relatively equal distributions of wealth. As a country develops, it acquires more capital, which leads to the owners of this capital having more wealth and income and introducing inequality. Eventually, through various possible redistribution mechanisms such as trickle down effects and social welfare programs, more developed countries move back to lower levels of inequality. Kuznets demonstrated this relationship using cross-sectional data. However, more recent testing of this theory with superior panel data has shown it to be very weak. Simon Smith Kuznets (April 30, 1901 – July 8, 1985) was an American economist at Wharton School of the University of Pennsylvania who won the 1971 Nobel Prize in Economics for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social... Economic development is the development of economic wealth of countries or regions for the well-being of their inhabitants. ... Kuznets curve is the graphical representation of Simon Kuznetss theory (Kuznets hypothesis) that economic inequality increases over time, then at a critical point begins to decrease. ... In economics the trickle-down effect is believed to be an economic theory, despite the fact that, according to laissez-faire economist Thomas Sowell, no conservative economist has ever advocated such a theory [1] [2]. Indeed, in his article Preserving the Vision: Part III Sowell asserts A year ago this... ... Cross-sectional data in statistics and econometrics is a type of one-dimensional data set. ... In statistics and econometrics, the term panel data refers to two-dimensional data. ...


Wealth condensation

Main article: Wealth condensation Wealth condensation is a theoretical process by which, in certain conditions, newly-created wealth tends to become concentrated in the possession of already-wealthy individuals or entities. ...


Wealth condensation is a theoretical process by which, under certain conditions, newly-created wealth concentrates in the possession of already-wealthy individuals or entities. According to this theory, those who already hold wealth have the means to invest in new sources of creating wealth or to otherwise leverage the accumulation of wealth, thus are the beneficiaries of the new wealth. Over time, wealth condensation can significantly contribute to the persistence of inequality within society. For the business meaning, see Wealth (economics). ... Investment is a term with several closely related meanings in finance and economics. ...


As an example of wealth condensation, truck drivers who own their own trucks often make more money than those who do not, since the owner of a truck can escape the rent charged to drivers by owners (even taking into account maintenance and other costs). Hence, a truck driver who has wealth to begin with can afford to buy his own truck in order to make more money. A truck driver who does not own his own truck makes a lesser wage and is therefore stuck in a Catch-22, unable to buy his own truck to increase his income. This article does not cite any references or sources. ...


As another example of wealth condensation, savings from the upper-income groups tend to accumulate much faster than saving from the lower-income groups. Upper-income groups can save a significant portion of their incomes. On the other hand, lower-income groups barely make enough to cover their consumptions, hence only capable of saving a fraction of their incomes or even none. Assuming both groups earn the same yield rate on their savings, the return on upper-income groups’ savings are much greater than the lower-income groups’ savings because upper-income groups have a much larger base.


Related to wealth condensation are the effects of intergenerational inequality. The rich tend to provide their offspring with a better education, increasing their chances of achieving a high income. Furthermore, the wealthy often leave their offspring with a hefty inheritance, jump-starting the process of wealth condensation for the next generation. However, it has been contended by some sociologists such as Charles Murray that this has little effect on one's long-term outcome and that innate ability is by far the best determinant of one's lifetime outcome. This article or section does not adequately cite its references or sources. ... Charles Murray is the name of several notable people: Charles Murray, the Libertarian and author of The Bell Curve. ...


Mitigating factors

There are many factors that tend to constrain the amount of economic inequality within society. These factors may be divided into two general classes: government sponsored, and market driven. The relative merits and effectiveness of each approach is a subject of heated debate.


Proponents of government sponsored approaches to reducing economic inequality generally believe that economic inequality represents a fundamental injustice, and that it is the right and duty of the government to correct this injustice. Government sponsored approaches to reducing economic inequality include:

  • Mass education - to increase the supply of skilled labour and decrease the wage of skilled labour to reduce income inequality;
  • Progressive taxation, where the rich are taxed more than the poor - to reduce the amount of income inequality in society.
  • Minimum wage legislation - to raise the income of the poorest working group. However, proponents of the free market believe this will cut the least skilled out of the employment market entirely.
  • The Nationalization or subsidization of essential goods and services such as food, healthcare, education, and housing - to reduce the amount of inequality in society - by providing goods and services that everyone needs cheaply or freely, governments can effectively increase the disposable income of the poorer members of society.

Proponents of free markets might suggest that these measures will backfire, as the growth of government would create a privileged class such as the nomenklatura in the Soviet Union who use their position within the government to gain unequal access to resources, thereby reducing economic equality. Others argue that free markets without these measures allow the already privileged to control the political life of a country like happened in Brazil where the country's right wing military dictorship (1964-1985) allow the country to become the most economically unequal in the American continent. A progressive tax is a tax imposed so that the tax rate increases as the amount to which the rate is applied increases. ... Nationalization or nationalisation is the act of transferring assets into public ownership. ... In economics, a subsidy is generally a monetary grant given by a government to lower the price faced by producers or consumers of a good, generally because it is considered to be in the public interest. ... Health care or healthcare is one of the worlds largest and fastest growing professions. ... Houses in Fishpool Street, St Albans, England For other meanings of the word house, see House (disambiguation). ... For the album by punk rock band, Snuff, see Disposable Income (album) Disposable income is the total amount of income an individual makes after direct taxes. ... The nomenklatura were a small, élite subset of the general population in the Soviet Union who held various key administrative positions in all spheres of the Soviet Union: in government, industry, agriculture, education, etc. ...


Other proponents of free markets do not generally see economic inequality in a free market as fundamentally unjust. Market-driven reductions in economic inequality are therefore incidental to economic freedom. Nevertheless there are some market forces which work to reduce economic inequality:

  • In a market-driven economy, too much economic disparity could generate pressure for its own removal. In an extreme example, if one person owned everything, that person would immediately (in a market economy) have to hire people to maintain their property, and that person's wealth would immediately begin to dissipate. (García-Peñalosa 2006)
  • By a concept known as the "decreasing marginal utility of wealth", a wealthy person will tend not to value their last dollar as much as a poor person, since a poor person's dollars are more likely to be spent for essentials. This could tend to move wealth from the rich to the poor. A derogatory term for this is the "trickle down effect".

In economics, marginal utility is the additional utility (satisfaction or benefit) that a consumer derives from an additional unit of a commodity or service. ... In economics the trickle-down effect is believed to be an economic theory, despite the fact that, according to laissez-faire economist Thomas Sowell, no conservative economist has ever advocated such a theory [1] [2]. Indeed, in his article Preserving the Vision: Part III Sowell asserts A year ago this...

Effects of inequality

Social cohesion

Research has shown a clear link between income inequality and social cohesion. In more equal societies, people are much more likely to trust each other, measures of social capital suggest greater community involvement, and homicide rates are consistently lower. Trust is the belief in the good character of one party, presumed to seek to fulfill policies, ethical codes, law and their previous promises. ... Social capital is a core concept in business, economics, organizational behaviour, political science, and sociology, defined as the advantage created by a persons location in a structure of relationships. ... Homicide (Latin homicidium, homo human being + caedere to cut, kill) refers to the act of killing another human being. ...


One of the earliest writers to note the link between economic equality and social cohesion was Alexis de Tocqueville in his Democracy in America. Writing in 1831: For other uses, see Tocqueville (disambiguation) Alexis de Tocqueville Alexis-Charles-Henri Clérel de Tocqueville (Verneuil-sur-Seine, Île-de-France, July 29, 1805– Cannes, April 16, 1859) was a French political thinker and historian. ... De la démocratie en Amérique (published in two volumes, the first in 1835 and the second in 1840) is a classic French text by Alexis de Tocqueville on the United States in the 1830s and its strengths and weaknesses. ...

Among the new objects that attracted my attention during my stay in the United States, none struck me with greater force than the equality of conditions. I easily perceived the enormous influence that this primary fact exercises on the workings of society. It gives a particular direction to the public mind, a particular turn to the laws, new maxims to those who govern, and particular habits to the governed... It creates opinions, gives rise to sentiments, inspires customs, and modifies everything it does not produce... I kept finding that fact before me again and again as a central point to which all of my observations were leading.
Income inequality and the social capital index in 50 U.S. states. Equality is correlated with higher levels of social capital
Income inequality and the social capital index in 50 U.S. states. Equality is correlated with higher levels of social capital

In a 2002 paper[1], Eric Uslaner and Mitchell Brown showed that there is a high correlation between the amount of trust in society and the amount of income equality. They did this by comparing results from the question “would others take advantage of you if they got the chance?” in U.S General Social Survey and others with statistics on income inequality. Image File history File linksMetadata Gini_vs_social_capital_in_USA.jpg Summary Social Capital Index vs. ... Image File history File linksMetadata Gini_vs_social_capital_in_USA.jpg Summary Social Capital Index vs. ... Motto: (Out Of Many, One) (traditional) In God We Trust (1956 to date) Anthem: The Star-Spangled Banner Capital Washington D.C. Largest city New York City None at federal level (English de facto) Government Federal constitutional republic  - President George Walker Bush (R)  - Vice President Dick Cheney (R) Independence from... Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      A U.S. state is any one of the fifty subnational entities of... Social capital is a core concept in business, economics, organizational behaviour, political science, and sociology, defined as the advantage created by a persons location in a structure of relationships. ... The General Social Survey (GSS) is a means for the collection of data on demographic characteristics and attitudes of residents of the United States. ...


Robert Putnam, professor of political science at Harvard, established links between social capital and economic inequality. His most important studies (Putnam, Leonardi, and Nanetti 1993, Putnam 2000) established these links in both the United States and in Italy. On the relationship of inequality and involvement in community he says: Robert D. Putnam (2006) Robert David Putnam (born 1941 in Rochester, New York) is a political scientist and professor at Harvard University. ... Harvard University is a private university in Cambridge, Massachusetts, USA, and a member of the Ivy League. ... Social capital is a core concept in business, economics, organizational behaviour, political science, and sociology, defined as the advantage created by a persons location in a structure of relationships. ...

Community and equality are mutually reinforcing… Social capital and economic inequality moved in tandem through most of the twentieth century. In terms of the distribution of wealth and income, America in the 1950s and 1960s was more egalitarian than it had been in more than a century… [T]hose same decades were also the high point of social connectedness and civic engagement. Record highs in equality and social capital coincided. Conversely, the last third of the twentieth century was a time of growing inequality and eroding social capital… The timing of the two trends is striking: somewhere around 1965-70 America reversed course and started becoming both less just economically and less well connected socially and politically. (Putnam 2000 pp 359)

In addition to affecting levels of trust and civic engagement, inequality in society has also shown to be highly correlated with crime rates. Most studies looking into the relationship between crime and inequality have concentrated on homicides - since homicides are almost identically defined across all nations and jurisdictions. There have been over fifty studies showing tendencies for violence to be more common in societies where income differences are larger. Research has been conducted comparing developed countries with undeveloped countries, as well as studying areas within countries. Daly et al. 2001 found that among U.S States and Canadian Provinces there is a tenfold difference in homicide rates related to inequality. They estimated that about half of all variation in homicide rates can be accounted for by differences in the amount of inequality in each province or state. Fajnzylber et al. (2002) found a similar relationship worldwide. Among comments in academic literature on the relationship between homicides and inequality are: This graph shows the rate of non-fatal firearm-related crime in the United States from 1993 to 2003. ... Homicide (Latin homicidium, homo human being + caedere to cut, kill) refers to the act of killing another human being. ... Motto: (Out Of Many, One) (traditional) In God We Trust (1956 to date) Anthem: The Star-Spangled Banner Capital Washington D.C. Largest city New York City None at federal level (English de facto) Government Federal constitutional republic  - President George Walker Bush (R)  - Vice President Dick Cheney (R) Independence from... Federal courts Supreme Court Circuit Courts of Appeal District Courts Elections Presidential elections Midterm elections Political Parties Democratic Republican Third parties State & Local government Governors Legislatures (List) State Courts Local Government Other countries Atlas  US Government Portal      A U.S. state is any one of the fifty subnational entities of... Canada consists of ten provinces and three territories. ...

  • The most consistent finding in cross-national research on homicides has been that of a positive association between income inequality and homicides. (Neapolitan 1999 pp 260)
  • Economic inequality is positively and significantly related to rates of homicide despite an extensive list of conceptually relevant controls. The fact that this relationship is found with the most recent data and using a different measure of economic inequality from previous research, suggests that the finding is very robust. (Lee and Bankston 1999 pp 50)

Population health

Income inequality and mortality in 282 metropolitan areas of the United States. Mortality is strongly associated with higher income inequality, but, within levels of income inequality, not with per capita income.
Income inequality and mortality in 282 metropolitan areas of the United States. Mortality is strongly associated with higher income inequality, but, within levels of income inequality, not with per capita income.

Recently, there has been increasing interest from epidemiologists on the subject of economic inequality and its relation to the health of populations. There is a very robust correlation between socioeconomic status and health. This correlation suggests that it is not only the poor who tend to be sick when everyone else is healthy, but that there is a continual gradient, from the top to the bottom of the socio-economic ladder, relating status to health. This phenomenon is often called the "SES Gradient". Lower socioeconomic status has been linked to chronic stress, heart disease, ulcers, type 2 diabetes, rheumatoid arthritis, certain types of cancer, and premature aging. Image File history File links Inequality_and_mortality_in_metro_US.jpg Summary This shows death rates in metropolitan areas of the United States according to inequality of income and the average per capita income. ... Image File history File links Inequality_and_mortality_in_metro_US.jpg Summary This shows death rates in metropolitan areas of the United States according to inequality of income and the average per capita income. ... Epidemiology is the study of factors affecting the health and illness of populations, and serves as the foundation and logic of interventions made in the interest of public health and preventive medicine. ... Population health is an approach to health that aims to improve the health of the entire population and to reduce health inequities among population groups. ... Social status is the honor or prestige attached to ones position in society (ones social position). ... In medical terms, stress is the disruption of homeostasis through physical or psychological stimuli. ... Heart disease is an umbrella term for a number of different diseases which affect the heart and as of 2007 it is the leading cause of death in the United States. ... An ulcer (from Latin ulcus) is an open sore of the skin, eyes or mucous membrane, often caused by an initial abrasion and generally maintained by an inflammation and/or an infection. ... See diabetes mellitus for further general information on diabetes. ... Rheumatoid arthritis (RA) is traditionally considered a chronic, inflammatory autoimmune disorder that causes the immune system to attack the joints. ... Cancer is a class of diseases or disorders characterized by uncontrolled division of cells and the ability of these to spread, either by direct growth into adjacent tissue through invasion, or by implantation into distant sites by metastasis (where cancer cells are transported through the bloodstream or lymphatic system). ... In biology, senescence is the state or process of aging. ...


There is debate regarding the cause of the SES Gradient. A number of researchers (A. Leigh, C. Jencks, A. Clarkwest - see also Russell Sage working papers) see a definite link between economic status and mortality due to the greater economic resources of the wealthy, but they find little correlation due to social status differences. Social status is the honor or prestige attached to ones position in society (ones social position). ...


Other researchers such as Richard Wilkinson, J. Lynch, and G.A. Kaplan have found that socioeconomic status strongly affects health even when controlling for economic resources and access to health care. Most famous for linking social status with health are the Whitehall studies - a series of studies conducted on civil servants in London. The studies found that although all civil servants in England have the same access to health care, there was a strong correlation between social status and health. The studies found that this relationship remained strong even when controlling for health-affecting habits such as exercise, smoking and drinking. Furthermore, it has been noted that no amount of medical attention will help decrease the likelihood of someone getting type 2 diabetes or rheumatoid arthritis - yet both are more common among populations with lower socioeconomic status. Lastly, it has been found that amongst the wealthiest quarter of countries on earth (a set stretching from Luxembourg to Slovakia) there is no relation between a country's wealth and general population health [2] - suggesting that past a certain level, absolute levels of wealth have little impact on population health, but relative levels within a country do. Wikipedia does not yet have an article with this exact name. ... The original Whitehall Study, sometimes referred to as the Whitehall I Study, investigated cardiorespiratory disease prevalence and mortality rates, among British male civil servants between the ages of 20 and 64, over a period of 10 years beginning in 1967. ... A civil servant or public servant is a civilian career public_sector employee working for a government department or agency. ... This article is about the capital of England and the United Kingdom. ... The term Exercise can refer to: Physical exercise such as running or strength training Exercise (options), the financial term for enacting and terminating a contract Category: ... The cigarette is the most common method of smoking tobacco. ... Alcoholic beverages. ... See diabetes mellitus for further general information on diabetes. ... Rheumatoid arthritis (RA) is traditionally considered a chronic, inflammatory autoimmune disorder that causes the immune system to attack the joints. ...


The concept of psychosocial stress attempts to explain how psychosocial phenomena such as status and social stratification can lead to the many diseases associated with the SES Gradient. Higher levels of economic inequality tend to intensify social hierarchies and generally degrade the quality of social relations - leading to greater levels of stress and stress-related diseases. Richard Wilkinson found this to be true not only for the poorest members of society, but also for the wealthiest. Economic inequality is bad for everyone's health. social stratification is the division of people of a particular society on the basis if occupation, income, power, prestige, authority, status, dignity, education, class, castle, gender, race and ethnicity In sociology, social stratification is the hierarchical arrangement of social classes, castes and strata within a society. ... In medical terms, stress is the disruption of homeostasis through physical or psychological stimuli. ...


The effects of inequality on health are not limited to human populations. David H. Abbott at the Wisconsin National Primate Research Center found that among many primate species, less egalitarian social structures correlated with higher levels of stress hormones among socially subordinate individuals.


Utility, economic welfare, and distributive efficiency

Economic inequality is thought to reduce distributive efficiency within society. That is to say, inequality reduces the sum total of personal utility because of the decreasing marginal utility of wealth. For example, a house may provide less utility to a single millionaire as a summer home than it would to a homeless family of five. The marginal utility of wealth is lowest among the richest. In other words, an additional dollar spent by a poor person will go to things providing a great deal of utility to that person, such as basic necessities like food, water, and healthcare; meanwhile, an additional dollar spent by a much richer person will most likely go to things providing relatively less utility to that person, such as luxury items. From this standpoint, for any given amount of wealth in society, a society with more equality will have higher aggregate utility. Some studies (Layard 2003;Blanchard and Oswald 2000, 2003) have found evidence for this theory, noting that in societies where inequality is lower, population-wide satisfaction and happiness tend to be higher. In welfare economics, distributive efficiency occurs when goods and services are received by those who have the greatest need for them. ... In economics, utility is a measure of the relative happiness or satisfaction (gratification) gained. ... In economics, diminishing returns is the short form of diminishing marginal returns. ... In economics, marginal utility is the additional utility (satisfaction or benefit) that a consumer derives from an additional unit of a commodity or service. ... In economics, marginal utility is the additional utility (satisfaction or benefit) that a consumer derives from an additional unit of a commodity or service. ...


Economist Arthur Cecil Pigou discussed the impact of inequality in The Economics of Welfare. He wrote: Arthur Cecil Pigou (November 18, 1877 – March 7, 1959) was an English economist, known for his work in many fields and particularly in welfare economics. ...

Nevertheless, it is evident that any transference of income from a relatively rich man to a relatively poor man of similar temperament, since it enables more intense wants, to be satisfied at the expense of less intense wants, must increase the aggregate sum of satisfaction. The old "law of diminishing utility" thus leads securely to the proposition: Any cause which increases the absolute share of real income in the hands of the poor, provided that it does not lead to a contraction in the size of the national dividend from any point of view, will, in general, increase economic welfare.

In addition to the argument based on diminishing marginal utility, Pigou makes a second argument that income generally benefits the rich by making them wealthier than other people, whereas the poor benefit in absolute terms. Pigou writes:

Now the part played by comparative, as distinguished from absolute, income is likely to be small for incomes that only suffice to provide the necessaries and primary comforts of life, but to be large with large incomes. In other words, a larger proportion of the satisfaction yielded by the incomes of rich people comes from their relative, rather than from their absolute, amount. This part of it will not be destroyed if the incomes of all rich people are diminished together. The loss of economic welfare suffered by the rich when command over resources is transferred from them to the poor will, therefore, be substantially smaller relatively to the gain of economic welfare to the poor than a consideration of the law of diminishing utility taken by itself suggests. --Arthur Cecil Pigou in The Economics of Welfare

Schmidtz (2006) argues that maximizing the sum of individual utilities does not necessarily imply that the maximum social utility is achieved. For example: David Schmidtz is Professor of Philosophy and joint Professor of Economics at the University of Arizona. ...

A society that takes Joe Rich’s second unit [of corn] is taking that unit away from someone who . . . has nothing better to do than plant it and giving it to someone who . . . does have something better to do with it. That sounds good, but in the process, the society takes seed corn out of production and diverts it to food, thereby cannibalizing itself

Economic incentives

Many people accept inequality as a given, and argue that the prospect of greater material wealth provides incentives for competition and innovation within an economy. Wealth usually refers to money and property. ... For the record label, see Incentive Records. ... Competition is the act of striving against others for the purpose of achieving gain, such as income, pride, amusement, or dominance. ...


Some modern economic theories, such as the neoclassical school, have suggested that a functioning economy requires a certain level of unemployment. These theories argue that unemployment benefits must be below the wage level to provide an incentive to work, thereby mandating inequality. Other theories, including socialism and Keynesianism, dispute this alleged positive role of unemployment. Economics is the social science studying production and consumption through measurable variables. ... Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... The term NAIRU is an acronym for Non-Accelerating Inflation Rate of Unemployment. ... This article does not cite any references or sources. ... A wage is a compensation which workers receive in exchange for their labor. ... Socialism refers to a broad array of doctrines or political movements that envisage a socio-economic system in which property and the distribution of wealth are subjfuck grapesect to control by the community[1] for the purposes of increasing social and economic equality and cooperation. ... Keynesian economics, or Keynesianism, is an economic theory based on the ideas of John Maynard Keynes, as put forward in his book The General Theory of Employment, Interest and Money, published in 1936 in response to the Great Depression of the 1930s. ...


Many economists believe that one of the main reasons that inequality might induce economic incentive is because material wellbeing and conspicuous consumption are related to status. In this view, high stratification of income (high inequality) creates high amounts of social stratification, leading to greater competition for status. One of the first writers to note this relationship was Adam Smith who recognized "regard" as one of the major driving forces behind economic activity. From The Theory of Moral Sentiments in 1759: Conspicuous consumption is a term used to describe the lavish spending on goods and services that are acquired mainly for the purpose of displaying income or wealth. ... social stratification is the division of people of a particular society on the basis if occupation, income, power, prestige, authority, status, dignity, education, class, castle, gender, race and ethnicity In sociology, social stratification is the hierarchical arrangement of social classes, castes and strata within a society. ... For other persons named Adam Smith, see Adam Smith (disambiguation). ... The Theory of Moral Sentiments written by Adam Smith in 1759, was one of the most important works in the theory of capitalism. ...

[W]hat is the end of avarice and ambition, of the pursuit of wealth, of power, and pre-eminence? Is it to supply the necessities of nature? The wages of the meanest labourer can supply them... [W]hy should those who have been educated in the higher ranks of life, regard it as worse than death, to be reduced to live, even without labour, upon the same simple fare with him, to dwell under the same lowly roof, and to be clothed in the same humble attire? From whence, then, arises that emulation which runs through all the different ranks of men, and what are the advantages which we propose by that great purpose of human life which we call bettering our condition? To be observed, to be attended to, to be taken notice of with sympathy, complacency, and approbation, are all the advantages which we can propose to derive from it. It is the vanity, not the ease, or the pleasure, which interests us (Theory of Moral Sentiments, Part I, Section III, Chapter II).

Modern sociologists and economists such as Juliet Schor and Robert H. Frank have studied the extent to which economic activity is fueled by the ability of consumption to represent social status. Schor, in The Overspent American, argues that the increasing inequality during the 1980s and 1990s strongly accounts for increasing aspirations of income, increased consumption, decreased savings, and increased debt. In Luxury Fever Robert H. Frank argues that people's satisfaction with their income is much more strongly affected by how it compares with others than its absolute level. Juliet Schor is a Professor of sociology at Boston College. ... Professor Robert H. Frank is the Henrietta Johnson Louis Professor of Management Professor of Economics at Cornell Universitys S.C. Johnson Graduate School of Management. ...


Economic growth

Several recent economists have investigated the relationship between inequality and economic growth using econometrics. World GDP/capita changed very little for most of human history before the industrial revolution. ... Econometrics is concerned with the tasks of developing and applying quantitative or statistical methods to the study and elucidation of economic principles. ...


In their study for the World Institute for Development Economics Research, Giovanni Andrea Cornia and Julius Court (2001) reach policy conclusions as to the optimal distribution of income.[1] They conclude that too much equality (below a Gini coefficient of .25) negatively impacts growth due to "incentive traps, free-riding, labour shirking, [and] high supervision costs". They also claim that high levels of inequality (above a Gini coefficient of .40) negatively impacts growth, due to "incentive traps, erosion of social cohesion, social conflicts, [and] uncertain property rights". They advocate for policies which put equality at the low end of this "efficient" range. Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ... Graphical representation of the Gini coefficient The Gini coefficient is a measure of inequality of income distribution or inequality of wealth distribution. ...


Robert Barro wrote a paper arguing that inequality reduces growth in poor countries and promotes growth in rich ones. [3] A number of other researchers have derived conflicting results, some concluding there is a negative effect of inequality on growth and others a positive. Patrizio Pagano used Granger causality, a technique that can determine two way interaction between two variables, to attempt to explain these previous findings. Pagano's research suggested that inequality had a negative effect on growth while growth increased inequality. The two-way interaction largely explains the contradiction in past research.[2] Robert Barro Robert Barro (born 1944) is an influential macroeconomist and the Wesley Clair Mitchell Professor of Economics at Columbia University. ... Granger causality is a technique for determining whether one time series is useful in forecasting another. ...


Perspectives regarding economic inequality

There are various schools of thought regarding economic inequality.


Marxism

Marxism favors an eventual communist society where distribution is based on an individual's needs rather than his ability to produce, social class, inheritance, or other such factors. In such a system inequality would be low or non-existent assuming everyone had the same "needs". Marxism is both the theory and the political practice (that is, the praxis) derived from the work of Karl Marx and Friedrich Engels. ... Communism is an ideology that seeks to establish a classless, stateless social organization based on common ownership of the means of production. ...


Liberalism

Classical liberals and libertarians generally do not take a stance on wealth inequality, but believe in equality under the law regardless of whether it leads to unequal wealth distribution. Ludwig von Mises (1996) explains: Classical liberalism is a political and economic philosophy, originally founded on the Enlightenment tradition - established by thinkers such as Adam Smith -, as well as on the tradition of a Nordic school of liberalism even slightly before that, set in motion by a Finnish parlamentarian Anders Chydenius. ... This article deals with the libertarianism as defined in America and several other nations. ... This article needs to be cleaned up to conform to a higher standard of quality. ... Ludwig Heinrich Edler von Mises (September 29, 1881 – October 10, 1973) (IPA: ) was a notable economist and a major influence on the modern libertarian movement. ...

The liberal champions of equality under the law were fully aware of the fact that men are born unequal and that it is precisely their inequality that generates social cooperation and civilization. Equality under the law was in their opinion not designed to correct the inexorable facts of the universe and to make natural inequality disappear. It was, on the contrary, the device to secure for the whole of mankind the maximum of benefits it can derive from it. Henceforth no man-made institutions should prevent a man from attaining that station in which he can best serve his fellow citizens.

Libertarian Robert Nozick argued that government redistributes wealth by force (usually in the form of taxation), and that the ideal moral society would be one where all individuals are free from force. However, Nozick recognized that some modern economic inequalities were the result of forceful taking of property, and a certain amount of redistribution would be justified to compensate for this force but not because of the inequalities themselves. John Rawls argued in A Theory of Justice that inequalities in the distribution of wealth are only justified when they improve society as a whole, including the poorest members. Rawls does not discuss the full implications of his theory of justice. Some see Rawls's argument as a justification for capitalism since even the poorest members of society theoretically benefit from increased innovations under capitalism; others believe only a strong welfare state can satisfy Rawls's theory of justice. Robert Nozick (November 16, 1938 – January 23, 2002) was an American philosopher and Pellegrino University Professor at Harvard University. ... John Rawls (February 21, 1921 – November 24, 2002) was an American philosopher, a professor of political philosophy at Harvard University and author of A Theory of Justice (1971), Political Liberalism, Justice as Fairness: A Restatement, and The Law of Peoples. ... A Theory of Justice is a book of political and moral philosophy by John Rawls. ... For other uses, see Capitalism (disambiguation). ... The Welfare State of the United Kingdom was prefigured in the William Beveridge Report in 1942, which identified five Giant Evils in society: squalor, ignorance, want, idleness and disease. ...


Classical liberal Milton Friedman believed that if government action is taken in pursuit of economic equality that political freedom would suffer. In a famous quote, he said: Milton Friedman (July 31, 1912 – November 16, 2006) was an American Nobel Laureate economist and public intellectual. ...

A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.

Arguments based on social justice

Patrick Diamond and Anthony Giddens (professors of Economics and Sociology, respectively) hold that

pure meritocracy is incoherent because, without redistribution, one generation's successful individuals would become the next generation's embedded caste, hoarding the wealth they had accumulated. This article or section does not cite any references or sources. ... Inheritance tax, also known in some countries outside the United States as a death duty and referred to as an estate tax within the U.S, is a form of tax levied upon the bequest that a person may make in their will to a living person or organisation. ...

They also state that social justice requires redistribution of high incomes and large concentrations of wealth in a way that spreads it more widely, in order to "recognise the contribution made by all sections of the community to building the nation's wealth." (Patrick Diamond and Anthony Giddens, 27 June 2005, New Statesman)[3] Social justice refers to the concept of an unjust society that refers to more than just the administration of laws. ... Image needed Anthony Giddens, Baron Giddens (born January 18, 1938) is a British sociologist who is renowned for his theory of structuration and his holistic view of modern societies. ... is the 178th day of the year (179th in leap years) in the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ...


Claims economic inequality weakens societies

In most western democracies, the desire to eliminate or reduce economic inequality is generally associated with the political left. The main practical argument in favor of reduction is the idea that economic inequality reduces social cohesion and increases social unrest, thereby weakening the society.


There is evidence that this is true (see inequity aversion) and it is intuitive, at least for small face-to-face groups of people. Alberto Alesina, Rafael Di Tella, and Robert MacCulloch find that inequality negatively affects happiness in Europe but not in the United States.[4] Inequity aversion is the preference for fair rewards and fairplay in Anthropology (in the sub-disciplines sociology, economics, sociobiology, psychology, Evolutionary psychology, and primate behaviourology). ... Alberto Alesina, born in Italy in 1957, is the Nathaniel Ropes Professor of Political Economy at Harvard University. ... For other uses, see Happiness (disambiguation). ...


Ricardo Nicolás Pérez Truglia in "Can a rise in income inequality improve welfare?"[5] proposed a possible explanation: some goods might not be allocated through standard markets, but through a signaling mechanism. As long as income is associated with positive personal traits (e.g. charisma), in more heterogeneous-in-income societies income not only buys traditional goods (e.g. food, a house), but it also buys non-market goods (e.g. friends, confidence). Thus, endogenous income inequality may explain a rise in social welfare.


It has also been argued that economic inequality invariably translates to political inequality, which further aggravates the problem.


The main disagreement between the western democratic left and right, is basically a disagreement on the importance of each effect, and where the proper balance point should be. Both sides generally agree that the causes of economic inequality based on non-economic differences (race, gender, etc.) should be minimized. There is strong disagreement on how this minimization should be achieved.


Arguments that inequality is not a primary concern

The acceptance of economic inequality is generally associated with the political right. One argument in favor of the acceptance of economic inequality is that, as long as the cause is mainly due to differences in behavior, the inequality provides incentives that push the society towards economically healthy and efficient behavior. Capitalists see orderly competition and individual initiative as crucial to economic prosperity and accordingly believe that economic freedom is more important than economic equality.


Another argument is that more inequality does not necessarily mean more poverty, and that although poverty is bad, inequality is not bad in itself. Thus, a policy can be considered good if it makes some wealthy people wealthier without making anyone poorer, even though it increases the total amount of inequality. In reality, though, the words poor and rich are relative terms. Policies making wealthy people richer in fact make everybody else poorer so because of the law of supply and demand everybody at the end compete for the same goods.


A third argument is that capitalism, especially free market capitalism, results in voluntary transactions among parties. Since the transactions are voluntary, each party at least believes they benefit from the transaction. According to the subjective theory of value, both parties will indeed benefit the transaction (assuming there is no fraud or extortion involved). Economic subjectivism is the theory that value is a feature of the appraiser and not of the thing being valued. ...


See also

Differences in national income equality around the world as measured by the national Gini coefficient. ... Distributive justice - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... Global justice is a concept in political philosophy denoting justice between societies or between individuals in different societies, as opposed to within a specific society. ... Income disparity is an inequality in pay or salary for equal labor. ... This graph shows the household income of the given percentiles from 1967 to 2003, in 2003 dollars. ... Male-female income disparity, also referred to as a gender gap in earnings, in the United States, also known as the gender wage gap, the gender earnings gap and the gender pay gap, is used by government agencies and economists to refer to statistics gathered by the U.S. Census... Income inequality metrics or income distribution metrics are techniques used by economists to measure the distribution of income among the participants in a particular economy, such as that of a specific country or of the world in general. ... World map of the Gini coefficient This is a list of countries or dependencies by Income inequality metrics, sorted in ascending order according to their Gini coefficient. ... Positive liberty is an idea that was first expressed and analyzed as a separate conception of liberty by John Stuart Mill but most notably described by Isaiah Berlin. ... The philosophical concept of negative liberty refers to an individuals liberty from being subjected to the authority of others. ... Marx is a common German surname. ... The Millenium Development Goals The Millennium Development Goals are eight goals that 192 United Nations member states have agreed to try to achieve by the year 2015. ... A boy from an East Cipinang trash dump slum in Jakarta, Indonesia shows what he found. ... In economics and sociology, the cycle of poverty or the poverty cycle is a social phenomenon whereby poverty-stricken individuals exhibit a tendency to remain poor throughout their lifespan and in many cases across generations. ... Population health is an approach to health that aims to improve the health of the entire population and to reduce health inequities among population groups. ... The Population Health Forum is a group based out of the University of Washington in Seattle, Washington, but composed of academics, citizens, students, and activists from around North America. ... An achievement gap refers to the observed disparity on a number of educational measures between the performance of groups of students, especially groups defined by gender, race/ethnicity, and socioeconomic status. ... The E-rate program (officially the Schools and Libraries Program of the Universal Service Fund), authorized in 1996 and implemented in 1997, directly addressed the technology gap between rich and poor schools by allocating money from telecommunications taxes to poor schools without technology resources. ... A generation gap is a popular term used to describe wide differences in cultural norms between members of a younger generation and their elders. ... The marriage gap describes observed disparities between those who are married and those who are single. ... Opportunity gap can refer to: in business, a Market opportunity a company or individual is not addressing in politics, a euphemism for a lack of Equal opportunity Business opportunity Market Intelligence Marketing management Marketing plan Product management Strategic planning Achievement gap Digital gap Generation gap Income gap Marriage gap Category...

References

  1. ^ http://www.wider.unu.edu/publications/pb4.pdf
  2. ^ http://www.bancaditalia.it/ricerca/consultazioni/temidi/td04/td536_04/td536/tema_536.pdf
  3. ^ http://www.newstatesman.com/nssubsfilter.php3?newTemplate=NSArticle_NS&newDisplayURN=200506270022
  4. ^ http://www.cepr.org/pubs/dps/DP2877.asp
  5. ^ http://www.ricardotruglia.com.ar/workingpapers.htm

Notes

  1. ^  The talk page gives some criticisms of this paper.
  2. ^  Scientific American December 2005 - Sick of Poverty by Robert Sapolsky [4]

Scientific American is a popular-science magazine, published (first weekly and later monthly) since August 28, 1845, making it the oldest continuously published magazine in the United States. ...

References

Books
Papers
  • Alesina, A.; R. Di Tella & R. McCulloch (2004), "Inequality and Happiness: Are Americans and Europeans Different?", Journal of Public Economics 88: 2009–2042.
  • Barro, Robert (2000), "Inequality and Growth in a Panel of Countries", Journal of Economic Growth 7(1).
  • Ravallion, Martin (2005). World Bank, 5 May, Policy Research Working Paper no. WPS 3579, A poverty-inequality trade-off?
  • Sala-Martin, Xavier (2006)."The World Distribution of Income: Falling Poverty and… Convergence, Period," Quarterly Journal of Economics," 121(2), May, pp. 351-397.
  • Uslaner, Eric. & Brown. Mitchell (2002), Inequality, Trust, and Civic Engagement

Richard Lynn (born 1930) is a British Professor Emeritus of Psychology and a leading scholar of racial and ethnic differences,[1] known for his work on intelligence and differential psychology. ... Tatu Vanhanen is a Professor Emeritus of Political Science at the University of Tampere, Tampere, Finland. ... IQ and the Wealth of Nations IQ and the Wealth of Nations is a controversial 2002 book by Dr. Richard Lynn, Professor Emeritus of Psychology at the University of Ulster, Northern Ireland, and Dr. Tatu Vanhanen, Professor Emeritus of Political Science at the University of Tampere, Tampere, Finland. ... Arthur Cecil Pigou (November 18, 1877 – March 7, 1959) was an English economist, known for his work in many fields and particularly in welfare economics. ... David Schmidtz is Professor of Philosophy and joint Professor of Economics at the University of Arizona. ... This article does not cite any references or sources. ... Wikipedia does not yet have an article with this exact name. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 348th day of the year (349th in leap years) in the Gregorian calendar. ... Ludwig Heinrich Edler von Mises (September 29, 1881 – October 10, 1973) (IPA: ) was a notable economist and a major influence on the modern libertarian movement. ... Robert Barro Robert Barro (born 1944) is an influential macroeconomist and the Wesley Clair Mitchell Professor of Economics at Columbia University. ... The World Bank (the Bank), a part of the World Bank Group (WBG), was formally established on December 27, 1945, following the ratification of the Bretton Woods agreement. ... // is the 125th day of the year (126th in leap years) in the Gregorian calendar. ...

External links


  Results from FactBites:
 
Economic inequality - Wikipedia, the free encyclopedia (4530 words)
A country's economic structure or system (such as capitalism, socialism and everything in between), ongoing or past wars, and individuals' different abilities to create wealth are all involved in the creation of economic inequality.
Economic inequality is thought to reduce distributive efficiency within society.
One argument in favor of the acceptance of economic inequality is that, as long as the cause is mainly due to differences in behavior, the inequality provides incentives that push the society towards economically healthy and efficient behavior, and is therefore beneficial.
ILO-Global economic inequality and international trade-Ajit K. Ghose (9173 words)
Overall, the trends in global economic inequality are thus explicable in terms of the interactions between the effect of trade and the effect of demographic change.
Declining international inequality is thus a new feature of the world economy; indeed, it is a feature that distinguishes the current period of globalization from the earlier period (1870-1910) which was associated with growth of international inequality.
The contrasting trends in the two inequalities throughout the eighties and the nineties led to their convergence; towards the end of the nineties, the two inequalities were roughly of the same order.
  More results at FactBites »

 
 

COMMENTARY     


Share your thoughts, questions and commentary here
Your name
Your comments

Want to know more?
Search encyclopedia, statistics and forums:

 


Press Releases |  Feeds | Contact
The Wikipedia article included on this page is licensed under the GFDL.
Images may be subject to relevant owners' copyright.
All other elements are (c) copyright NationMaster.com 2003-5. All Rights Reserved.
Usage implies agreement with terms, 1022, m