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This is an accepted version of this page This is the latest accepted revision, reviewed on 2 January 2025. Dam in Clark County, Nevada, and Mohave County, Arizona, US For other uses, see Hoover Dam (disambiguation). "Boulder Dam" redirects here. For other uses, see Boulder Dam (disambiguation). Dam in Arizona, U.S. Hoover Dam Hoover Dam by Ansel Adams, 1941 Official name Hoover Dam Location ...
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).
Inequality increased during the 2000–2010 decade not because of stagnating wages for less-skilled workers, but because of accelerating incomes of the top 0.1%. [27] Author Timothy Noah estimates that "trade", increases in imports are responsible for just 10% of the "Great Divergence" in income distribution. [29]
Economic inequality describes the uneven distribution of wealth, income, resources and opportunity to different groups of people in a society -- something America knows plenty about. The last...
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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]
Because these income inequality metrics are summary statistics that seek to aggregate an entire distribution of incomes into a single index, the information on the measured inequality is reduced. This information reduction of course is the goal of computing inequality measures, as it reduces complexity.
History of economic inequality goes as old as the history of civilizations and military conquests. American economist Thorstein Veblen states that first "barbarian" civilizations wage wars when meeting one another because of scarcity of ressources, which would have allowed the creation of a "predatory spirit". Glory and theft became thus ...