Poverty and inequality Flashcards
1
Q
Gini Coefficient data
A
Richest 32 million in America own 80% of wealth, 288m have remaining **20%
Avg CEO in America paid 271 times more than avg production worker in 2017
**- UK gini coefficient = 0.36 in 2022
- Richest 1/5 of people’s mean inome b4 taxes and benefits = 13 times larger than poorest 1/5
- South Africa 0.63 gini coefficient
- Slovenia = 0.242
- Norway = really low but high taxation
2
Q
Examples of policies for redistributing income and wealth
impacts of them
A
3
Q
Taxation rates
A
4
Q
Definition of inequality
A
Inequality refers to the unequal distribution of resources or outcomes in a society.
5
Q
Definition of Lorenz Curve
A
The Lorenz Curve is a graphical representation of the distribution of income or wealth in a society
