SOCIOL 2R03 Lecture Notes - Lecture 9: Lorenz Curve, Ceteris Paribus, Gini Coefficient
18 Jun 2020
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Shifts in economic policy (vallas, 2009: 317) The battle of competition is fought by cheapening of commodities. The cheapness of commodities depends, ceteris paribus, on the productiveness of labor, and this again on the scale of production. Therefore, the larger capitals beat the smaller. (marx"s capital, 186. Markets work best under relative equality but they produce conditions of inequality. Markets work best if everyone has money as is spending. However, markets overtime break down so some companies tend to dominate over others. Markets in order to expand must cut cost and expand production. Income: the money you receive within a year. Wealth: everything you have minus your debt. In canada/usa wealth is more concentrated than income. Best way to visualize inequality is via a pyramid. Polarization also requires both wealth and poverty,but is conceptually missing its middle". Under polarization, the population is grouped into, or concentrated into two distinct regions or.
