Search results
Results From The WOW.Com Content Network
Edsall added that "Stiglitz may prove most prescient when he warns of a society governed by 'rules of the game that weaken the bargaining strength of workers vis-à-vis capital.' [1] A review in The Economist was mainly positive, noting that "Stiglitz is (mostly) skilled at making his argument." However, the reviewer wrote, "Mr Stiglitz's ...
In labour economics, Shapiro–Stiglitz theory of efficiency wages (or Shapiro–Stiglitz efficiency wage model) [1] is an economic theory of wages and unemployment in labour market equilibrium. It provides a technical description of why wages are unlikely to fall and how involuntary unemployment appears.
The title of the book points at the sharp decline in stock prices following the bankruptcy of the investment bank Lehman Brothers in September, 2008. Meanwhile, its subtitle reveals Stiglitz's conviction that free markets are at the bottom of the crisis, as he makes deregulation responsible for the rise of the shadow banking system, over-leveraged banks and subprime mortgages.
Whither Socialism? is based on Stiglitz's Wicksell Lectures, presented at the Stockholm School of Economics in 1990 and presents a summary of the central themes of information economics and serves as a primer on the theory of markets with imperfect information and imperfect competition as well as being a critique of both free market and market socialist approaches (see Roemer critique, op. cit.).
Social stratification is the hierarchical arrangement of society about social class, wealth, political influence. A society can be politically stratified based on authority and power, economically stratified based on income level and wealth, occupational stratification about one's occupation.
For societies with a resource distribution which entropywise is similar to the resource distribution of a reference society with a 73:27 split (73% of the resources belong to 27% of the population and vice versa), [Note 3] the point where the Hoover index and the Theil index are equal, is at a value of around 46% (0.46) for the Hoover index and ...
Global share of wealth by wealth group, Credit Suisse, 2021 Share of income of the top 1% for selected developed countries, 1975 to 2015. 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 ...
The concept of inequality is distinct from that of poverty [5] and fairness. Income inequality metrics (or income distribution metrics) are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.