Income distribution

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income inequality has increased (Milanovic 2011), remained relatively stable (Bourguignon and Morrisson 2002), or decreased (Sala-i-Martin, 2002) since 1980. What Milanovic (2005) calls the “mother of all inequality disputes” emphasizes this debate by using the same data on Gini coefficient from 1950 to 2000 and showing that when countries’ GDP per capita incomes are unweighted by population income inequality increases, but when they are weighted inequality decreases. This has much to do with the recent average income rise in China and to some extent India, who represent almost two-fifths of the world. Notwithstanding, inter-country inequality is significant, for instance as a group the bottom 5% of US income distribution receives more income than over 68 percent of the world, and of the 60 million people that make up the top 1% of income distribution, 50 million of them are citizens of Western Europe, North America or Oceania (Milanovic 2011:116,156).

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Institute of Statistics claims that from 2004 to 2014, income inequality in Brazil declined. The Gini coefficient for household per capita income has gone down from 0,54 to 0,49. This decline is due to boosted income of the poor by sustained economic growth and implementation of social policies, for example increase in minimum wage or targeted social programs. In particular, the Bolsa Família program, introduced by reelected president Luiz Inácio Lula da Silva, whose goal is to support families in need. Although criticized, this program has not only helped reduce income inequality, but also increased literacy and lower child labor and mortality. In addition, progressive taxation, as well as schooling, demographic changes, and labor market segmentation, contributed to reducing inequality.

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top decile’s share of income rose from 47 percent in 1994 to 60 percent in 2008 and 65 percent in 2017. The share of the poorest half of the population fell from 13 percent to 9 percent to 6 percent. An explanation for this trend is that South Africa governs a dual economy splitting the country into two different section. One section is built around an advanced capitalist economy while the other one is highly underdeveloped and mostly filled by black South Africans, which further leads to racial division of local population. As a result, on average a black South African earns three times less than a white South African.

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Gini coefficient is an income gap between rural and urban household. The share of the urban–rural income gap in total income inequality increased by 10 per cent over the period 1995–2007, rising from 38 to 48%. In China, constraints on migration limit the extent to which rural residents can move to urban areas in search of higher incomes and thereby reduce the urban–rural income gap. Although the urbanization rate has more than doubled in last 50 years, the prosses is still decelerated by various institutional and social barriers. As a result the share of national income of China's top 10% wealthiest people is 41%.

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market institutions, and a culture of social cohesion which definitely contributes to them being notoriously the happiest in the world. Moreover, Nordic countries seem to be unaffected by the trends towards increasing inequality and higher unemployment observed in other countries, particularly the US and the UK Even though each of the Nordic countries have experienced termorarily rising income inequality, and they have all been affected by economic crises, they all shown a remarkable ability to recover and return to a persistent growth path and a stable relatively low income inequality.

428:: – it is weighted average of the mean level of earnings and education of certain occupations. It has advantages such a collecting important information about parents, which can be reported retrospectively by adult children. It also remains relatively stable in between the occupation career so single measuring provides adequate information of long run standing. On the other hand, it has also limitations for the mobility analyzing. Whereas occupational earning of men usually tends to be higher than by women, by the occupational education it is the other way around. 1642:... inequality continues to be a robust and powerful determinant both of the pace of medium-term growth and of the duration of growth spells, even controlling for the size of redistributive transfers. ... here is surprisingly little evidence for the growth-destroying effects of fiscal redistribution at a macroeconomic level. ... or non-extreme redistributions, there is no evidence of any adverse direct effect. The average redistribution, and the associated reduction in inequality, is thus associated with higher and more durable growth. 502: 889:: up to 40% of total income went into the pockets of the richest 5%. In the more recent years income distribution is still an issue. The UK experienced a large increase in inequality during the 1980s—the incomes of the highest deciles increase while everyone else was stagnant. Uneven growth in the years leading up to 1991 meant further increases in inequality. Throughout the 1990s and 2000s, more even growth across the distribution meant little changes in inequality, with rising incomes for everybody. In sight of 334:

same dollar amount of money (e.g. $ 100) has a greater economic impact on only one party—the poor. That same amount has little economic impact on a wealthy individual, so the disparity is addressed by ensuring the richest individuals are taxed a greater share of their wealth. The state then uses the tax revenue to find necessary and beneficial activities for the society at large. Every person in this system would have access to the same social benefits, but the rich pay more for it, so

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bargaining to improve wages for low- and middle-income workers. International Perspectives on Income Distribution Income distribution varies greatly around the world. Comparing countries through tools like the World Income Inequality Database (WIID) or the Standardized World Income Inequality Database (SWIID) can provide insights into global patterns and the effectiveness of different policies.

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factor's market, and finally, are equal to the marginal productivity of the factors of production. A change in the quantity of any one of the factors will affect the marginal production, supply and demand of factors and eventually alter the income distribution from firms to households within the economy.

1130:. The income of any person in one year may depend on the income in the previous year and on a chance of progress. Assuming that to every "dying" income receiver, there is an heir to his or her income in the following year, and vice versa. This implies that the number of incomes is constant through time. 1080:

In the past, the income distribution in Nordic countries including Denmark, Sweden, Norway, Finland, and Iceland was renowned for being relatively low compared to the rest of the world. This is caused by a combination of factors such as progressive taxation, strong social welfare system, strong labor

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economist Duangmanee Laovakul in 2013 showed that the country's top 20 land owners owned 80 percent of the nation's land. The bottom 20 owned only 0.3 percent. Among those having bank deposits, 0.1 percent of bank accounts held 49 per cent of total bank deposits. As of 2019, Thai per capita income is

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is also widely used within the World Bank. It is an accurate and reliable index for measuring income distribution on a country by country level. The Gini index measurements go from 0 to 1 for 1 being perfect inequality and 0 being perfect equality. The world Gini index is measured at 0.52 as of 2016.

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mobility and the mobility of women: – Old economic analysis has been making one mistake, that they did analysis that focused mostly on the father-son pairs and their individual earnings. In the last two decades, they have expanded their research and now they focus more on the mother-daughter pairs as

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Progressive Taxation: Taxing higher incomes at higher rates to redistribute income more evenly. Public Spending: Directing government expenditure towards education, healthcare, and social security to support lower-income groups. Wage Policies: Implementing minimum wage laws and encouraging collective

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Even though Brazil has managed to lower its income inequality, it is still very high compared to the rest of the world, with around half of the total income being concentrated among the richest 10 per cent, a little above a fifth among the top 1 per cent, and close to one tenth among the top 0.1 per

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Occupying the 11th place in the ranking of income inequality in the world. USA TODAY stated: "Russia has a Corruption Perceptions Index score of 28 – tied for the worst among OECD member states and affiliates and one of the lowest in the world. " The cause of the income gap are the close connections

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estimated in 2007 that the lower 80% of families were receiving $ 664 billion less income than they would be with a 1979 income distribution, or approximately $ 7,000 per family. Not receiving this income may have led many families to increase their debt burden, a significant factor in the 2007–2009

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Furthermore, increased inter-country income inequality over a long period is conclusive, with the Gini coefficient (using PPP exchange rate, unweighted by population) more than doubling between 1820 and the 1980s from .20 to .52 (Nolan 2009:63). However, scholars disagree about whether inter-country

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in the United States. The wealth gap between Caucasian and African-American families studied nearly tripled, from $ 85,000 in 1984 to $ 236,500 in 2009. The study concluded that factors contributing to the inequality included years of home ownership (27%), household income (20%), education (5%), and

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et al. showed that unionization redressed the income inequality in America and Canada, especially in their public sectors. For American male workers, the reduction of wage inequality was 1.7 percent in the private sector, while the reduction was 16.2 percent in the public sector. For American female

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Gini Coefficient: A measure that represents the income or wealth distribution among a nation's residents, with 0 expressing perfect equality and 1 indicating perfect inequality. Lorenz Curve: A graphical representation of income distribution, where a perfectly straight line (45-degree line) reflects

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China is one the fastest growing economies in the world since its reform policies in late 1970s. However, this phenomenon is often accompanied by an increase in income inequality. China's Gini coefficient has risen from 0,31 to 0,491 between the years 1981 and 2008. The main reason for China's high

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stay always poor: people cannot easily change their economic status and inequality then seems as a permanent problem. 2) individuals can easily shift their income class, e.g. from middle earning class to upper class or from lower class to middle class. Inequality is "fluid" and temporary so it does

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Universal Access to Quality Education: Ensuring that all individuals have access to quality education can reduce income inequality by equipping people with the skills they need to succeed. Lifelong Learning and Retraining Programs: Support for ongoing education and retraining can help workers adapt

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South Africa is well known for being one of the most unequal societies in the world. The first democratic elections in 1994 were promising in terms of equal opportunities and living standards for South African population, but a few decades later the inequality is still very high. For instance, the

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The goal of social welfare initiatives like the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is to provide jobs in rural areas. Public Distribution System (PDS) and other subsidized food programs help low-income households maintain food security. Economic changes like financial

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The progressive income tax takes a larger percentage of high incomes and a smaller percentage of low incomes. Effectively, the poorest pay the least of their earned incomes on taxes which allows them to keep a larger percentage of wealth. Justification can be illustrated by a simple heuristic: The

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According to this theory, the distribution of national income is determined by factor prices, the payment to each factor of production (wage for labor, rent for land, interest for capital, profit for entrepreneurship) which themselves are derived from the equilibrium of supply and demand in that

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Trends and Current Data Recent trends in income distribution show increasing income inequality in many parts of the world. This trend has been exacerbated by globalization and changes in the global economy. Current data from sources like the OECD can be used to update the article with the latest

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Addressing income inequality in Japan moving forward will require policies that tackle demographic challenges, ensure fair employment practices, and foster inclusive economic growth. Enhancing the social safety net and providing targeted assistance to vulnerable groups will be key to mitigating

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Income distribution is typically higher is typically higher in developing economies than in advanced economies. In most major emerging economies, income inequality rose over the past three decades (2016), namely in China, Russia, South Africa and India. Although some might argue, the Brazilian

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The U.S. has the highest level of income inequality among its (post-)industrialized peers. When measured for all households, U.S. income inequality is comparable to other developed countries before taxes and transfers, but is among the highest after taxes and transfers, meaning the U.S. shifts

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These trends underscore the complexity of income distribution as a global challenge. While the specifics can vary greatly by region and country, the common themes of technological change, globalization, policy choices, and demographic shifts play pivotal roles in shaping the dynamics of income

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Across the board, a number of industries are stratified across the genders. This is the result of a variety of factors. These include differences in education choices, preferred job and industry, work experience, number of hours worked, and breaks in employment (such as for bearing and raising

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Despite these issues, Japan's Gini coefficient—a measure of income inequality—remains lower than in many OECD countries. Still, the relative poverty rate highlights significant economic hardship among certain population segments. The government has responded with policies aimed at converting

612:, as highly leveraged homeowners suffered a much larger reduction in their net worth during the crisis. Further, since lower income families tend to spend relatively more of their income than higher income families, shifting more of the income to wealthier families may slow economic growth. 754:

Australia was suffering from the global fallout from the 2008 financial crisis in 2011, but compared to many other industrialized countries, its economy remained comparatively strong, partly because of its solid mining industry and close trading relations with China.

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Addressing income inequality requires comprehensive policy interventions that consider these diverse causes, including improving access to education, reforming tax systems, ensuring fair labor practices, and implementing social policies that promote equity and

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Various economic theories address income distribution, from classical economics, which tends to focus on market mechanisms, to Keynesian economics, which emphasizes the role of government intervention. Policies to influence income distribution include:

105:). Modern economists have also addressed issues of income distribution, but have focused more on the distribution of income across individuals and households. Important theoretical and policy concerns include the balance between income inequality and 1125:

In a model by Champernowne, the author assumes that the income scale is divided into an enumerable infinity of income ranges, which have uniform proportionate distribution. The development through time of the DoI between ranges is regarded to be a

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Low unemployment rate and high GDP are signs of the health of the U.S. economy. But there is almost 18% of people living below the poverty line and the Gini coefficient is quite high. That ranks the United States 9th income inequal in the world.

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This provides actual money to the people with very low or no income and gives them an absolute freedom in decision-making how to use this benefit. This works best if we assume that they are rational and make decisions in their best interest.

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There are two ways of looking at income inequality, within country inequality (intra-country inequality) – which is inequality within a nation; or between country inequality (inter-country inequality) which is inequality between countries.

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If a cash is given to a poor person, he or she may not make "the best" choice in case, what to buy for this extra money. Then, there is the solution in form of the food stamps or directly the food as an in-kind transfer to the poorest.

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Australia's government prioritized resolving income inequities that were made worse by the global economic slump during this time, as well as maintaining economic stability. Among the measures taken to lessen income inequality were:

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among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a

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Rate of unemployment: During this time, India's jobless rate was roughly 9%. GDP per capita: In 2011, the GDP per capita was approximately USD 1,500, indicating a significant income gap between developed countries and India.

746:) per year, driven by average GDP growth of five to six percent. Under the 20-year national plan stretching out to 2036, the government intends to narrow the income disparity gap to 15 times, down from 20 times in 2018. 1418: 596:

stated that the gap between rich and poor within OECD countries (most of which are "high income" economies) "has reached its highest level for over 30 years, and governments must act quickly to tackle inequality".

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Mobility is measured by the association between parents´ and adult children's socioeconomic standing, where higher association means less mobility. Socioeconomic standing is captured by four different measures:

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It is difficult to create a realistic and not complicated theoretical model, because the forces determining the distribution of income (DoI) are varied and complex and they continuously interact and fluctuate.

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These measures were a part of Australia's larger strategy to guarantee that the country's economic expansion benefited all facets of society, especially in light of the unpredictability of the world economy.

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Earnings mobility: – Earning mobility evaluates the relationship between two certain generations by means of linear regression (upper math) of the long transformed measure of children's and parents' earnings.

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Martela, F., Greve, B., Rothstein, B., & Saari, J. (2020). The Nordic exceptionalism: What explains why the Nordic countries are constantly among the happiest in the world. World happiness report, 2020,

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is noted for its systematic collection and review of available data, especially concerning income levels; not all aspects of historical wealth distribution are similarly attested in the available records.

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and $ 280,300 for the highest quintile. The degree of inequality accelerated within the top quintile, with the top 1% at $ 1.8 million, approximately 30 times the $ 59,300 income of the middle quintile.

541:. However, many prominent economists disagree with the need for inequality to increase as a country develops. Further, empirical data on the proclaimed subsequent decrease of inequality is conflicting. 896:

2019: The United Kingdom was doing a lot to reduce one of the widest gap between rich and poor citizens, what has led to getting on the 13th place in the ranking of income inequality in the world.

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Standard economic theory stipulates that inequality tends to increase over time as a country develops, and to decrease as a certain average income is attained. This theory is commonly known as the

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Work with other countries to establish international standards for labor rights, tax policies, and corporate governance to prevent a "race to the bottom" in terms of wages and working conditions.

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Introducing fiscal measures like progressive taxes that are intended to redistribute income. Encouraging work by taking steps to increase the number of jobs being created in different industries.

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2011: In the United States, income has become distributed more unequally over the past 30 years, with those in the top quintile (20 percent) earning more than the bottom 80 percent combined.

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inequality worldwide. Addressing these issues requires a nuanced understanding of both global trends and local contexts, as well as coordinated efforts across multiple sectors of society.

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workers, the reductions were 0.6 percent and 10.7 percent in the private and public sectors, respectively. In Canada, reduction effects were likewise more noticeable in the public sector.

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children). Men also typically go into higher paid and higher risk jobs when compared to women. These factors result in 60% to 75% difference between men's and women's average aggregate

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absolute equality. Quintile and Decile Ratios: These divide the population into equal parts (quintiles - fifths, deciles - tenths) to compare the income shares received by each group.

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Were it not for those survey problems, the Census Bureau estimates, median household income would have risen just 3.8% and the poverty rate would have registered as 11.1%.

375:

The rent and upkeep of housing form a large portion of spending in the lower income families. Housing subsidies were designed to help the poor obtaining adequate housing.

553:, depending on the source. Various explanations for the remaining 25% to 40% have been suggested, including women's lower willingness and ability to negotiate salary and 434:: – Classes are instead categorical groupings based on specific occupational assets that determine life chances as expressed in outcomes such as income, health or wealth. 3615: 220:

The lack of a comprehensive measure about how the pretax income differs from the post-tax income makes hard to assess how government redistribution affects inequality.

1170: 2287: 1300: 1267: 1197: 3145:

INTERNATIONAL MONETARY FUND Research Department. Inequality and Unsustainable Growth: Two Sides of the Same Coin? Prepared by Andrew G. Berg and Jonathan D. Ostry1

2428: 2604: 885:

Inequality in the UK has been very high in the past, and did not change much until the onset of industrialization. Incomes used to be remarkably concentrated pre-

3580: 3138: 2574: 623: 1843: 3620: 3575: 1878: 705:

Post-tax Gini coefficient: In 2011, India's estimated Gini coefficient ranged from 0.33 to 0.36, indicating moderate to high levels of income inequality.

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India's economy was growing rapidly in 2011, but a big section of the population was still living in poverty, making income disparity a serious problem.

403:

over their lifetime. When someone improves his economic situation, this person is considered upwardly mobile. Mobility can vary between two extremes: 1)

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Post-tax Gini coefficient: In 2011, Australia's Gini coefficient was roughly 0.33, showing a moderate degree of income inequality by global standards.

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presented the distribution and change in income distribution of various nations over the course of a few decades along with other factors such as

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There exist some problems and limitations in the measurement of inequality as there is a large gap between the national accounts (which focus on

3168:. (This source presents data about long-run changes in the income distribution for 25 countries over the course of more than one hundred years.) 223:

There is not a clear view on how long-run trends in income concentration are shaped by the major changes in woman's labour force participation.

2868:

Derviş, K., & Qureshi, Z. (2016). Income distribution within countries: Rising in===Chiequality. Global Economy and Development. Brookings.

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of Russian oligarchs and the government, thanks to these relationships oligarchs get lucrative business deals and earn more and more money.

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relatively less income from higher income households to lower income households. In 2016, average market income was $ 15,600 for the lowest

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has been ranked the world's third most unequal nation after Russia and India, with a widening gap between rich and poor according to

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well. Generally earnings provides a stable measure of well-being independently of another financial assets or any kind of transfers.

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Rate of poverty: In 2011, more than 20% of Indians were living below the country's poverty line, making it a high rate of poverty.

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Card D, Lemieux T, Riddell WC (Feb 2020). "Unions and wage inequality: The roles of gender, skill and public sector employment".

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familial financial support and/or inheritance (5%). In an analysis of the American Opportunity Accounts Act, a bill to introduce

3663: 3658: 3590: 798: 472: 3101: 3074: 3055: 3020: 2923:

Shi, L., & Renwei, Z. (2011). Market reform and the widening of the income gap. Social Sciences in China, 32(2), 140-158.

2508: 2197: 1948: 1676: 1543: 792: 645:

As of 2018, Albania has the smallest gap in wealth distribution with Zimbabwe having the largest gap in wealth distribution.

240:

is one aspect of economic inequality. Incomes levels can be studied through taxation records and other historical documents.

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non-regular positions to regular ones, increasing the minimum wage, and enhancing social security for low-income families.

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inclusion programs that give underprivileged people access to banking services in an effort to promote inclusive growth.

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Rate of unemployment: In 2011, Australia's unemployment rate was 5.1%, which was consistent with a stable labor market.

581:

reported that by 2019 white families had more than seven times the wealth of the average Black family, according to the

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Milanovic, B., 2005. Worlds Apart: Measuring International and Global Inequality, Princeton University Press: Princeton

2050: 1473: 140:

for different income groups starting with the lowest quintile. Top 20% people take approximately 45% of the all income.

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Under these assumptions any historical development of the DoI can be described by the following vectors and matrices.

568:

Institute on Assets and Social Policy which followed the same sets of families for 25 years found that there are vast

30: 3904: 3648: 3292: 2245: 1935: 569: 3557: 3193: 1523: 620: 116:

can represent the distribution of income within a society. The Lorenz curve is closely associated with measures of

17: 2315:

Narayanan, Sudha; Gerber, Nicolas (December 2017). "Social safety nets for food and nutrition security in India".

3839: 3376: 1993: 1964: 1900:

Blau, Francine D.; Kahn, Lawrence M. (February 2007). "The Gender Pay Gap: Have Women Gone as Far as They Can?".

1852: 877:, lower effective tax rates on higher incomes, and technology changes that reward higher educational attainment. 3253: 1468: 2351: 1109:

rate: 0,2% (3,65$ ) (2021), 0,8% (3,65$ ) (2021), 0,3% (3,65$ ) (2019), 0% (3,65$ ) (2021), 0% (3,65$ ) (2017)

2644:"Chairman Alan Krueger Discusses the Rise and Consequences of Inequality at the Center for American Progress" 1742: 1439: 3899: 3537: 3511: 3422: 1559: 1493: 3117: 1717: 1692: 1103:

per capita: $ 77,953.7 (2022), $ 68,178.0 (2022), $ 121,259.2 (2022), $ 62,823.0 (2022), $ 71,840.1 (2022)

3547: 3532: 3519: 582: 486: 3876: 3680: 3067:

The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities

2495: 2481: 764:

GDP per capita: In 2011, the GDP per capita was approximately USD 62,000, indicating a robust economy.

54:

have long seen income and its distribution as a central concern. Unequal distribution of income causes

2887: 3527: 3371: 1811: 510: 155: 145: 2497:

The Australian Economy in the 2000s: Proceedings of a Conference Held in Sydney on 15-16 August 2011

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The Indian government put in place a number of measures to alleviate economic disparity, including:

3260: 3248: 1498: 609: 395:

is another factor in the study of income inequality. It describes how people change their economic

82: 2097: 2083:

Bourguignon, François; Morrisson, Christian (2002). "Inequality Among World Citizens: 1820–1992".

3605: 3336: 2947: 2910: 2524:

Congressional Budget Office: Trends in the Distribution of Household Income Between 1979 and 2007

1483: 514: 2120:

Sala-i-Martin, Xavier (April 2002). The Disturbing 'Rise' of Global Income Inequality (Report).

1598: 1203: 254: 3722: 3445: 2092: 1785: 1654: 1535: 862: 858: 214: 168: 1139: 158:(or income distribution metrics) are used by social scientists to measure the distribution of 3853: 3704: 2141: 1272: 886: 554: 90: 3714: 2061:

Nolan, P., 2009. Crossroads: The End of Wild Capitalism Marshall Cavendish: London, New York

1622: 1527: 458:

reduces the income inequality in both private and public sectors, and research conducted by

3761: 3756: 3746: 3460: 3440: 3221: 3186: 3153: 3144: 2692: 2377: 2324: 1245: 1175: 870: 806:

2019: The wealthiest 10% of American households control nearly 75% of household net worth.

738: 592:

According to intra-country inequality at least in the OECD countries, a May 2011 report by

151: 8: 3831: 3728: 3485: 3415: 3366: 3341: 3238: 3233: 2004: 1994:"The Roots of the Widening Racial Wealth Gap: Explaining the Black-White Economic Divide" 1503: 565: 558: 425: 232: 163: 102: 66: 55: 2696: 2328: 849:

The economic and political impacts of inequality may include slower GDP growth, reduced

3026: 2988: 2728: 2715: 2682: 2668: 2261: 1917: 1553: 1127: 2900:

Piketty, T. 2014. Capital in the XXI century. Cambridge, MA: Harvard University Press.

3824: 3751: 3470: 3410: 3405: 3097: 3070: 3051: 3016: 2732: 2720: 2504: 2241: 2193: 2137: 1944: 1921: 1672: 1573: 1539: 1528: 1453: 850: 578: 314: 117: 81:(1772–1823) concentrated their attention on factor income-distribution, that is, the 2482:"Redistribution of * Income and Reducing Economic Inequality - IMF F&D Magazine" 1084:

The following data is for Denmark, Sweden, Norway, Finland and Iceland respectively

3388: 3226: 3089: 3043: 2980: 2710: 2700: 2673: 2332: 2288:"INCOME AND WEALTH INEQUALITY IN INDIA, 1922-2023: THE RISE OF THE BILLIONAIRE RAJ" 2129: 2121: 2102: 1909: 1463: 866: 616: 501: 478: 258: 137: 121: 98: 94: 767:

Poverty rate: Various estimates place the poverty rate between 12 and 13 percent.

3871: 3787: 3475: 3450: 3179: 1242:... matrix, that contains proportions of the occupants of r-th range in the year 1091:

coefficient: 0.283 (2021), 0.298 (2021), 0.277 (2019), 0.277 (2021), 0.261 (2017)

627: 392: 335: 274: 266: 106: 51: 3149: 2451: 2449: 3125: 2803: 2781: 2762: 2648: 2457:"The Australian economy and the global downturn Part 1: Reasons for resilience" 1989: 854: 639: 635: 482: 431: 247: 210: 74: 2336: 2106: 1913: 1743:"How do we characteristically measure and analyze intergenerational mobility?" 1172:... number of the income receivers in range r = 1, 2, ... in the initial year 3893: 3845: 3810: 3455: 3306: 3157: 3129: 3121: 2877:

World Inequality Database (WID.world) (2023) – processed by Our World in Data

2446: 2187: 1478: 1116: 874: 604: 561:

direct discrimination only explains a small part of gender wage differences.

538: 534: 441: 400: 294: 278: 78: 2051:

Society: Governments must tackle record gap between rich and poor, says OECD

1097:

rate: 4.892% (2024), 8.365% (2024), 3,8% (2024),4.892% (2024), 3.383% (2024)

132: 34:

Share of income of the top 1% for selected developed countries, 1975 to 2015

3738: 3480: 3326: 3030: 2724: 2705: 1422:

The elements of proportion matrices can be estimated from historical data.

893:, there is more predicted income distribution discrepancies between wages. 631: 113: 3093: 3047: 998:

The highest income inequality is in the South Africa, based on 2019 data.

3804: 3465: 3395: 3361: 3331: 3301: 2523: 742:

US$ 8,000 a year. The government aims to raise it to US$ 15,000 (498,771

455: 298: 270: 2616: 3490: 3280: 2992: 1988: 1845:

An Analysis of Reasons for the Disparity in Wages Between Men and Women

1534:. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 574: 494: 459: 396: 286: 282: 262: 70: 2934:"The Rise of Wealth, Private Property, and Income Inequality in China" 2605:"U.N. Report: With 40M in Poverty, U.S. Most Unequal Developed Nation" 3709: 3400: 3315: 3285: 3275: 3270: 3165: 2133: 1693:"Income Distribution: What can be done to improve income inequality?" 743: 517:

2018 that provides estimates of global income and wealth inequality.

290: 39: 2984: 2687: 2073:

Milanovic, B., 2011. Haves and the Have-Nots, Basic Books: New York

1413:{\displaystyle X_{s}(t+1)=\sum _{r=0}^{\infty }X_{r}(t)p'_{rs}(t).} 842: 730: 525: 2125: 3383: 3171: 2802:

Material was copied from this source, which is available under a

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Stewart, Alexander J.; McCarty, Nolan; Bryson, Joanna J. (2020).

1458: 1448: 408: 306: 3817: 3432: 3203: 2549:"These 15 countries have the widest gaps between rich and poor" 1433: 890: 550: 404: 302: 159: 150:

The concept of inequality is distinct from that of poverty and

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How a country's total GDP is distributed amongst its population

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Champernowne, D. G. (1953). "A Model of Income Distribution".

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Bolstering the social safety net by raising welfare payments.

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which is a concern in almost all countries around the world.

178: 2669:"Polarization under rising inequality and economic decline" 2653: 2215:"Wealth Distribution and Income Inequality by Country 2022" 1768:

Canadian Journal of Economics/Revue canadienne d'économique

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is distributed amongst its population. Economic theory and

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Development of income distribution as a stochastic process

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and of levels of economic equality/inequality include:

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Creative Commons Attribution 4.0 International License

2575:"American Incomes Were Rising, Until The Pandemic Hit" 2378:"Government urged to help 1.2m desperately poor Thais" 1871:"On Equal Pay Day, key facts about the gender pay gap" 1522: 195: 2780:

Roser, Max; Ortiz-Ospina, Esteban (5 December 2013).

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Roser, Max; Ortiz-Ospina, Esteban (5 December 2013).

2069: 2067: 1313: 1275: 1248: 1206: 1178: 1142: 2856:"Whites earn three times more than blacks: Stats SA" 2666: 2082: 1671:(9th ed.). Macmillan Learning. pp. 47–80. 1429: 378: 2842:"Poverty, Inequality and Policy in Southern Africa" 1943:. Publications Office of the European Union. 2013. 857:leading to increased risk of financial crises, and 320: 226: 3783:Socialism for the rich and capitalism for the poor 2064: 1412: 1294: 1261: 1234: 1191: 1164: 341: 3008: 2779: 2760: 2603:United Press International (UPI), June 22, 2018, 2179: 1937:Tackling the Gender Pay Gap in the European Union 347:to changing economic conditions and job markets. 136:Income before (green) and after (pink) taxes and 3891: 3086:Income Distribution Dynamics of Economic Systems 1740: 1269:shifted to the s-th range in the following year 3581:Largest financial services companies by revenue 2314: 1992:; Tatjana Meschede; Sam Osoro (February 2013). 1748:. The Stanford Center on Poverty and Inequality 1623:"Redistribution, Inequality, and Growth | Data" 213:totals) and inequality studies (which focus on 2888:"Inequality in Brazil: A Regional Perspective" 2817:"Brexit and wage inequality: before and after" 2566: 2028:"Can Baby Bonds Shrink the Racial Wealth Gap?" 1868: 3576:Largest corporations by market capitalization 3187: 2739: 2119: 171:used to determine the dispersion of incomes. 3009:Piketty, Thomas; Goldhammer, Arthur (2014). 2970: 2617:"The Distribution of Household Income, 2016" 1965:"What are the causes? - European Commission" 415: 350: 3778:The rich get richer and the poor get poorer 2635: 2395: 2166:"Harness market forces to share prosperity" 865:increasing relative to the average worker, 3586:Largest manufacturing companies by revenue 3194: 3180: 2948:"Unemployment Rates Around the World 2024" 2911:"Unemployment Rates Around the World 2024" 2349: 1718:"Income Distribution: Income Distribution" 1305:The vector of the DoI can be expressed as 653:Income distribution in different countries 570:differences in wealth across racial groups 3139:The Polarization of the U.S. Labor Market 2714: 2704: 2686: 2375: 2350:Sukprasert, Pattramon (6 February 2017). 2163: 2096: 1786:"GINI index (World Bank estimate) | Data" 1710: 853:, higher poverty rates, greater usage of 179:Economic Theories and Government Policies 3037: 2623:. Congressional Budget Office. July 2019 2609: 2401: 2185: 1982: 1899: 524: 500: 467:Distribution measurement internationally 412:not create a serious permanent problem. 131: 109:, and their often inverse relationship. 29: 3596:Largest technology companies by revenue 3083: 3064: 2641: 2597: 2572: 2404:"Steering the NESDB through transition" 2212: 2025: 489:(CIA), have measured income inequality 14: 3892: 3664:Income inequality in the United States 3659:Wealth inequality in the United States 2745: 2660: 2402:Theparat, Chatrudee (14 August 2018). 1666: 799:Income inequality in the United States 473:List of countries by income inequality 338:significantly reduces the inequality. 3591:Largest software companies by revenue 3175: 2746:Porter, Eduardo (November 12, 2013). 2542: 2540: 2538: 2536: 2534: 2532: 2007:Institute on Assets and Social Policy 793:Household income in the United States 481:, several organizations, such as the 3571:Largest corporate profits and losses 2573:Horsley, Scott (16 September 2020). 2547:Stebbins, Grant Suneson and Samuel. 2546: 2376:Chaitrong, Wichit (14 August 2019). 1893: 1809: 1489:Personal income in the United States 529:Idealized hypothetical Kuznets curve 370: 361: 3644:Countries by number of billionaires 3012:Capital in the Twenty-First Century 2748:"Rethinking the Rise of Inequality" 2517: 2503:. Reserve Bank of Australia. 2011. 1075: 861:. Causes of inequality may include 281:, abilities of individual workers, 243:Capital in the Twenty-First Century 196:Neoclassical theory of distribution 24: 3201: 3150:The Chartbook of Income Inequality 3002: 2642:Krueger, Alan (January 12, 2012). 2529: 1902:Academy of Management Perspectives 1667:MANKIW, N. GREGORY (22 May 2015). 1474:Kinetic exchange models of markets 1358: 387: 25: 3916: 3293:Primitive accumulation of capital 3111: 2213:Ventura, Luca (12 January 2022). 880: 379:Welfare and Unemployment benefits 3639:Cities by number of billionaires 2797: 2429:"Income inequality in Australia" 2026:Szapiro, Aron (6 October 2020). 1869:Patten, Eileen (14 April 2015). 1432: 786: 509:The World Inequality Lab at the 399:, i.e. move in the hierarchy of 321:How to improve income inequality 227:Income inequality and its causes 3840:The Theory of the Leisure Class 3715:Acquired situational narcissism 3084:Ribeiro, Marcelo Byrro (2020). 2964: 2954: 2940: 2926: 2917: 2903: 2894: 2880: 2871: 2862: 2848: 2834: 2809: 2773: 2754: 2488: 2474: 2421: 2369: 2352:"Thailand 'third most unequal'" 2343: 2308: 2280: 2225: 2206: 2186:Mian, Atif; Sufi, Amir (2014). 2157: 2148: 2113: 2076: 2055: 2044: 2019: 1957: 1928: 1862: 1835: 1829: 1803: 1778: 1759: 1530:Economics: Principles in Action 962: 513:published in December 2017 the 342:Education and Skill Development 3654:Countries by wealth inequality 3254:History of economic inequality 1734: 1685: 1660: 1647: 1615: 1591: 1574:"What is economic inequality?" 1566: 1526:; Sheffrin, Steven M. (2003). 1516: 1469:Affluence in the United States 1404: 1398: 1379: 1373: 1336: 1324: 1229: 1223: 1159: 1153: 449: 204: 127: 13: 1: 3118:The World Top Income Database 3038:Atkinson, Anthony B. (2015). 1842:CONSAD Research Corporation, 1510: 1440:Business and economics portal 1065:per capita: $ 21,482.6 (2022) 1030:per capita: $ 17,827.6 (2022) 694:income inequality's impacts. 46:covers how a country's total 3621:Number of billionaire alumni 3566:Largest companies by revenue 3015:. Harvard University Press. 1494:Poverty in the United States 749: 7: 1425: 725: 583:Survey of Consumer Finances 487:Central Intelligence Agency 277:& fiscal policies, the 255:Causes of income inequality 246:(2013) by French economist 10: 3921: 1235:{\displaystyle p'_{rs}(t)} 1036:rate: 1.4% (3,65$ ) (2023) 796: 790: 470: 273:policies, Federal Reserve 230: 143: 3867: 3796: 3770: 3737: 3700: 3693: 3649:Countries by total wealth 3631: 3556: 3528:List of centibillionaires 3510: 3503: 3431: 3372:High-net-worth individual 3354: 3217: 3210: 3065:Baumohl, Bernard (2005). 2337:10.1016/j.gfs.2017.05.001 2192:. University of Chicago. 2107:10.1257/00028280260344443 2001:Research and Policy Brief 1914:10.5465/AMP.2007.24286161 1741:Florencia Torche (2013). 1001: 926: 520: 511:Paris School of Economics 416:Measuring income mobility 351:International Cooperation 156:Income inequality metrics 146:Income inequality metrics 3905:Macroeconomic indicators 3261:International inequality 3249:Consumption distribution 2085:American Economic Review 1599:"Distribution of Income" 1558:: CS1 maint: location ( 1499:Redistribution of wealth 1165:{\displaystyle X_{r}(0)} 1071:rate: 2% (3,65$ ) (2020) 1053:coefficient: 0.371(2020) 1040: 697: 657: 610:subprime mortgage crisis 328: 61: 3337:Conspicuous consumption 3141:, economics.harvard.edu 2219:Global Finance Magazine 1810:root (10 August 2008). 1484:Median household income 1295:{\displaystyle Y_{t+1}} 1018:coefficient: 0.52(2022) 515:World Inequality Report 3723:Argumentum ad crumenam 3069:. Wharton School Pub. 2706:10.1126/sciadv.abd4201 1414: 1362: 1296: 1263: 1236: 1193: 1166: 871:industry concentration 863:executive compensation 859:political polarization 530: 506: 141: 35: 3854:The Wealth of Nations 3705:Diseases of affluence 3094:10.1017/9781316136119 3048:10.4159/9780674287013 1415: 1342: 1297: 1264: 1262:{\displaystyle Y_{t}} 1237: 1194: 1192:{\displaystyle Y_{0}} 1167: 988:per capita: $ 12 287. 948:per capita: $ 24 417. 916:per capita: $ 39 425. 826:per capita: $ 53 632. 797:Further information: 683:per capita: $ 40 850. 555:sexual discrimination 528: 505:2018 World gini Index 504: 407:stay always rich and 169:system of measurement 135: 91:factors of production 33: 3762:Venture philanthropy 3757:Philanthrocapitalism 3669:Most expensive items 3543:Wealthiest Americans 3523:list of billionaires 3222:Capital accumulation 3154:University of Oxford 2973:The Economic Journal 2821:World Economic Forum 2317:Global Food Security 1311: 1273: 1246: 1204: 1176: 1140: 1024:rate: 8.032% (2024). 887:industrial evolution 739:Thammasat University 737:in 2016. A study by 192:figures and trends. 89:between the primary 67:Classical economists 3900:Income distribution 3818:Greek god of wealth 3729:Prosperity theology 3548:Wealthiest families 3533:Female billionaires 3367:Captain of industry 3342:Conspicuous leisure 3244:Income distribution 3239:Wealth distribution 3234:Economic inequality 2782:"Income Inequality" 2763:"Income Inequality" 2697:2020SciA....6.4201S 2329:2017GlFS...15...65N 2005:Brandeis University 1875:Pew Research Center 1504:Wealth distribution 1397: 1222: 566:Brandeis University 559:European Commission 557:. According to the 426:Occupational status 233:Economic inequality 164:economic inequality 56:economic inequality 44:income distribution 3681:Wealthiest animals 1790:data.worldbank.org 1524:O'Sullivan, Arthur 1410: 1382: 1292: 1259: 1232: 1207: 1189: 1162: 1128:stochastic process 976:coefficient: 0.62. 936:coefficient: 0.38. 904:coefficient: 0.35. 875:unionization rates 814:coefficient: 0.39. 671:coefficient: 0.32. 626:2014-03-01 at the 531: 507: 142: 36: 3887: 3886: 3863: 3862: 3752:The Giving Pledge 3689: 3688: 3499: 3498: 3162:Salvatore Morelli 3152:from INET at the 3103:978-1-316-13611-9 3076:978-0-13-145501-6 3057:978-0-674-28701-3 3022:978-0-674-43000-6 2786:Our World in Data 2767:Our World in Data 2654:National Archives 2510:978-0-9871488-5-8 2234:India Wage Report 2199:978-0-226-08194-6 1950:978-92-79-28821-0 1858:on 8 October 2013 1678:978-1-4641-8289-1 1545:978-0-13-063085-8 1454:Wage-price spiral 1059:rate: 5.1% (2024) 479:Gini coefficients 454:It is known that 371:Housing subsidies 362:In-kind transfers 315:economic mobility 275:monetary policies 267:economic policies 238:Income inequality 138:Transfer payments 118:income inequality 77:(1766–1834), and 16:(Redirected from 3912: 3747:Gospel of Wealth 3698: 3697: 3508: 3507: 3319: 3310: 3227:Overaccumulation 3215: 3214: 3196: 3189: 3182: 3173: 3172: 3158:Anthony Atkinson 3134:Facundo Alvaredo 3122:Anthony Atkinson 3107: 3080: 3061: 3034: 2997: 2996: 2979:(250): 318–351. 2968: 2962: 2958: 2952: 2951: 2950:. 18 April 2024. 2944: 2938: 2937: 2930: 2924: 2921: 2915: 2914: 2913:. 18 April 2024. 2907: 2901: 2898: 2892: 2891: 2884: 2878: 2875: 2869: 2866: 2860: 2859: 2852: 2846: 2845: 2838: 2832: 2831: 2829: 2827: 2813: 2807: 2801: 2796: 2794: 2792: 2777: 2771: 2770: 2758: 2752: 2751: 2743: 2737: 2736: 2718: 2708: 2690: 2681:(50): eabd4201. 2674:Science Advances 2664: 2658: 2657: 2639: 2633: 2632: 2630: 2628: 2613: 2607: 2601: 2595: 2594: 2589: 2587: 2570: 2564: 2563: 2561: 2559: 2544: 2527: 2521: 2515: 2514: 2502: 2492: 2486: 2485: 2478: 2472: 2471: 2469: 2468: 2453: 2444: 2443: 2441: 2440: 2425: 2419: 2418: 2416: 2414: 2399: 2393: 2392: 2390: 2388: 2373: 2367: 2366: 2364: 2362: 2347: 2341: 2340: 2312: 2306: 2305: 2303: 2302: 2292: 2284: 2278: 2277: 2271: 2267: 2265: 2257: 2255: 2254: 2239: 2229: 2223: 2222: 2210: 2204: 2203: 2183: 2177: 2176: 2174: 2172: 2161: 2155: 2152: 2146: 2145: 2117: 2111: 2110: 2100: 2080: 2074: 2071: 2062: 2059: 2053: 2048: 2042: 2041: 2039: 2038: 2023: 2017: 2016: 2014: 2012: 1998: 1986: 1980: 1979: 1977: 1975: 1961: 1955: 1954: 1942: 1932: 1926: 1925: 1897: 1891: 1890: 1888: 1886: 1881:on 16 April 2015 1877:. Archived from 1866: 1860: 1859: 1857: 1851:, archived from 1850: 1839: 1833: 1827: 1826: 1824: 1822: 1807: 1801: 1800: 1798: 1796: 1782: 1776: 1775: 1763: 1757: 1756: 1754: 1753: 1747: 1738: 1732: 1731: 1729: 1728: 1714: 1708: 1707: 1705: 1703: 1689: 1683: 1682: 1664: 1658: 1653:For poverty see 1651: 1645: 1644: 1639: 1637: 1632:. pp. 25–26 1627: 1619: 1613: 1612: 1610: 1609: 1595: 1589: 1588: 1586: 1584: 1570: 1564: 1563: 1557: 1549: 1533: 1520: 1464:Gini coefficient 1442: 1437: 1436: 1419: 1417: 1416: 1411: 1393: 1372: 1371: 1361: 1356: 1323: 1322: 1301: 1299: 1298: 1293: 1291: 1290: 1268: 1266: 1265: 1260: 1258: 1257: 1241: 1239: 1238: 1233: 1218: 1198: 1196: 1195: 1190: 1188: 1187: 1171: 1169: 1168: 1163: 1152: 1151: 1076:Nordic countries 867:financialization 485:(UN) and the US 279:market for labor 122:Gini coefficient 21: 18:Income disparity 3920: 3919: 3915: 3914: 3913: 3911: 3910: 3909: 3890: 3889: 3888: 3883: 3859: 3792: 3788:Too big to fail 3766: 3733: 3685: 3627: 3606:Philanthropists 3552: 3495: 3427: 3350: 3206: 3200: 3114: 3104: 3077: 3058: 3023: 3005: 3003:Further reading 3000: 2985:10.2307/2227127 2969: 2965: 2959: 2955: 2946: 2945: 2941: 2932: 2931: 2927: 2922: 2918: 2909: 2908: 2904: 2899: 2895: 2886: 2885: 2881: 2876: 2872: 2867: 2863: 2854: 2853: 2849: 2840: 2839: 2835: 2825: 2823: 2815: 2814: 2810: 2790: 2788: 2778: 2774: 2759: 2755: 2744: 2740: 2665: 2661: 2640: 2636: 2626: 2624: 2615: 2614: 2610: 2602: 2598: 2585: 2583: 2571: 2567: 2557: 2555: 2545: 2530: 2526:. October 2011. 2522: 2518: 2511: 2500: 2494: 2493: 2489: 2480: 2479: 2475: 2466: 2464: 2461:treasury.gov.au 2455: 2454: 2447: 2438: 2436: 2433:treasury.gov.au 2427: 2426: 2422: 2412: 2410: 2400: 2396: 2386: 2384: 2374: 2370: 2360: 2358: 2348: 2344: 2313: 2309: 2300: 2298: 2290: 2286: 2285: 2281: 2269: 2268: 2259: 2258: 2252: 2250: 2248: 2237: 2231: 2230: 2226: 2211: 2207: 2200: 2184: 2180: 2170: 2168: 2164:Larry Summers. 2162: 2158: 2153: 2149: 2118: 2114: 2081: 2077: 2072: 2065: 2060: 2056: 2049: 2045: 2036: 2034: 2032:Morningstar.com 2024: 2020: 2010: 2008: 1996: 1987: 1983: 1973: 1971: 1963: 1962: 1958: 1951: 1940: 1934: 1933: 1929: 1898: 1894: 1884: 1882: 1867: 1863: 1855: 1848: 1840: 1836: 1830: 1820: 1818: 1808: 1804: 1794: 1792: 1784: 1783: 1779: 1764: 1760: 1751: 1749: 1745: 1739: 1735: 1726: 1724: 1716: 1715: 1711: 1701: 1699: 1691: 1690: 1686: 1679: 1665: 1661: 1652: 1648: 1635: 1633: 1625: 1621: 1620: 1616: 1607: 1605: 1597: 1596: 1592: 1582: 1580: 1572: 1571: 1567: 1551: 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