Economic Jargon Flashcards
1
Q
Winner-Take-All Economy
A
An economy in which the best performers are able to capture a very large share of the available rewards, while the remaining competitors are left with very little. Widens wealth disparities because a select few are able to capture increasing amounts of income that would otherwise be more widely distributed throughout the population.
(frequently used by Andrew Yang)
2
Q
VAT
A
Value Added Tax
