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Mar 24, 2021 · Why do the rich keep getting richer and the poor keep getting poorer? What compels people to think a certain type of way and understand things different to normal people? How does one break the cycle of poverty?
- Roots of Inequality
- The Cost of Inequality
- What to Do About It?
In many instances, the historical roots of intercountry inequalities lie in slavery and colonialism. This is too often overlooked by contemporary economic analyses whose timeline is generally quite narrow. The Jamaican governmentis currently reminding the UK that slavery can hardly be dismissed as a “thing of the past”. Intracountry and intercountr...
The human and social cost of highly unequal processes of capitalist development for low classes and for the working poor is substantial. This should be the primary reason for our interest in inequality. The Marikana tragedy, which saw South African police firing on striking miners with live ammunition killing thirty-four, has indicated the violent ...
This is hardly an easy question to answer. Economics studies, even bestsellers like Piketty’s, still tell us little about who is more likely to bear the brunt of inequality. This is a crucial issue as inequality is a “horizontal”, “group phenomenon” experienced collectively. And income and wealth – material inequality – may only represent the final...
- Alessandra Mezzadri
Dec 10, 2021 · At a global level the average income for an adult is $23,380 (when adjusted for Purchasing Power Parity or PPP). However, the report's authors explain that this conceals wide disparities between and within countries. The richest 10% of the global population currently take home 52% of the income.
Jun 24, 2022 · Why are some nations rich and others poor? Can the governments of poor nations do something to ensure that their nations become rich?
Rich countries difer from poor ones in many ways – not just in their institutions – so there could be other reasons for both their prosperity and their types of institutions. Perhaps prosperity afects a society’s institutions, rather than vice-versa.
Most of the wealthy have high levels of personal assets but some might be considered ‘wealthy’ (or ‘rich’) due to extremely high levels of income – they may be ‘income rich but asset poor’.
Sep 1, 2017 · Yet, in the 241 years since the book’s publication, the gap between rich countries and poor countries has grown even larger. Economists are still refining their answer to the original question: Why are some countries rich and others poor, and what can be done about it?
