IDSA01H3 Study Guide - Final Guide: Kuznets Curve, Thomas Piketty, Gini Coefficient
11 Dec 2018
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Document Summary
Compare incomes of top declies (high income earners) with national average. Gini coefficient (coefficient 0= nobody had equal income & coefficient 1= equal income) Thomas piketty: studies in global income inequality (upside down kuznet"s curve) See industrial growth in some parts of the world and lack of industrial growth in other parts of the world. Governments have a choice either to decrease or increase inequality. The dominant form of economic policy from 1980s and onwards. Involves the redistribution of wealth: but to the rich rather than to the poor. Impacts (privatizations, attack on trade unions and erosions of permanent jobs, the rapid expansion of inform employment, tax breaks of corporations, elimination of social welfare, deregulations of finance- making money without producing) Political forces and state institutions play a crucial role in income distribution. World is becoming more urban: (1950 30%, 2014 54%, 2050 66%- people live in cities) Where do people go to get food and food is thrown out.
