ECON3109 Lecture Notes - Lecture 14: Purchasing Power Parity, International Inequality, Rent-Seeking
Document Summary
Econ3109 lecture 14 - inequality and human rights. Inequality and life expectancy: at similar levels of gdp/capita, people in some countries live much longer than the norm and people in others live much less than the norm. China and sri lanka are in the first group, living longer than the norm. Barbados, are in the second, with shorter lives than the norm. There is some debate about whether it is getting worse or getting better. Currently, the richest 1% of people in the world receives as much as the bottom 57%. The poorest 75% of the population share just 25%. However, from the 1970s on, national inequality increased in most countries. Then, differences between countries" mean incomes were relatively small. In 187, the average gdi (gross domestic income) per capita of the ten richest countries was 6 times greater than the average gdi per capita of the ten poorest countries.
