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Income inequality generally reduces government net lending/borrowing for all the countries. Economic growth, they find, leads to an increase of income inequality in the case of the UK and to the decline of inequality in the cases of the US and Canada. At the same time, economic growth improves government net lending/borrowing in all the countries.
Socioeconomic status has long been related to health, those higher in the social hierarchy typically enjoy better health than those below. [23] Socioeconomic status is an important source of health inequity, as there is a very robust positive correlation between socioeconomic status and health. This correlation suggests that it is not only the ...
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
The Lorenz curve is not defined if the mean of the probability distribution is zero or infinite. The Lorenz curve for a probability distribution is a continuous function . However, Lorenz curves representing discontinuous functions can be constructed as the limit of Lorenz curves of probability distributions, the line of perfect inequality ...
The Socio-Economic Review was established as the official journal of SASE in 2003. [10] The journal aims to encourage work on the relationship between society, economy, institutions and markets, moral commitments and the rational pursuit of self-interest. Most articles focus on economic action in its social and historical context, drawing from ...
Income inequality was the largest driver of the change in the poverty rate, with economic growth, family structure, education and race other important factors. [131] [132] An estimated 11.8% of Americans lived in poverty in 2018, [133] versus 16% in 2012 and 26% in 1967. [134]
A trade deficit occurs when a country imports more than it exports -- and that's a good thing for a national economy. Or a terrible thing. Or it might not matter one way or the other. Trade ...
Buildings in Rio de Janeiro, demonstrating economic inequality. Effects of income inequality, researchers have found, include higher rates of health and social problems, and lower rates of social goods, [1] a lower population-wide satisfaction and happiness [2] [3] and even a lower level of economic growth when human capital is neglected for high-end consumption. [4]