POLS 242 Lecture Notes - Lecture 3: Gross National Income, Gross Domestic Product, Public Choice
11 Oct 2016
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Political issues, like free health care & education, benefits to employed people (those who are unemployed would have incentive to look for job) *-most common indicators gdp (gross domestic product per person) *-employment and inflation and other factors (life expectancy reflects health facilities) Gdp growth rate per year (5% is high growth, some experience negative in a recession) Accounts for cost of living & how much a dollar buys in a certain place. Bourgeoisie can push labor wage down & replace workers if they protest, can always find someone willing to work when need to replace others (marxism) Difference in access to resource (wealth, power, status) Measured by gini coefficient/index: look at 10% richest and 10% poorest and see how overall wealth is distributed. Wealth fare policies or raising taxes on the wealthy. Inflation= consumer prices go up, and assets we have lose value & purchasing power. Key difference btw market ked and state led.
