L32) Globalization & Inequality Flashcards
1
Q
Define Income Inequality:
A
measures disparity between % of population & % of income received by that population
more income disparity <=> more inequality
Maximum & Minimum inequality:
2
Q
What is Maximum Inequality?
A
PERFECTLY UNEQUAL because one person holds all income
3
Q
What is Minimum Inequality?
A
PERFECT EQUALITY because all persons hold the same % of income
4
Q
According to Amartya Sen, why is income inequality relevant to globalization?
A
“The centric economic issue related to globalization is that of inequality”
- interest in the topic resurges since 1990s
5
Q
Describe the importance of Income Inequality at a (sub-) national level:
A
6
Q
Describe the importance of Income Inequality at a global level:
A
