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[8]: 208 Inequality has risen in most developed countries since the 1960s, so graphs of inequality over time no longer display a Kuznets curve. Piketty has argued that the decline in inequality over the first half of the 20th century was a once-off effect due to the destruction of large concentrations of wealth by war and economic depression.
In line with the new institutionalism, social rule system theory stresses that particular institutions and their organizational instantiations are deeply embedded in cultural, social, and political environments and that particular structures and practices are often reflections of as well as responses to rules, laws, conventions, paradigms built ...
The Atkinson index is defined as: (, …,) = {(=) / (=) / = (,...,) = +where is individual income (i = 1, 2, ..., N) and is the mean income.. In other words, the Atkinson index is the complement to 1 of the ratio of the Hölder generalized mean of exponent 1−ε to the arithmetic mean of the incomes (where as usual the generalized mean of exponent 0 is interpreted as the geometric mean).
The Theil index is a statistic primarily used to measure economic inequality [1] and other economic phenomena, though it has also been used to measure racial segregation. [2] [3] The Theil index T T is the same as redundancy in information theory which is the maximum possible entropy of the data minus the observed entropy.
Modern egalitarianism is a theory that rejects the classic definition of egalitarianism as a possible achievement economically, politically, and socially. Modern egalitarianism theory, or new egalitarianism, outlines that if everyone had the same opportunity cost , [ clarification needed ] then there would be no comparative advances and no one ...
The modern welfare system is based on the concept of entitlement to the basic means of being a productive member of society both as an organic function of society and as compensation for the socially useful labor provided.
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
Social inequality usually implies the lack of equality of outcome, but may alternatively be conceptualized as a lack of equality in access to opportunity. [1] Social inequality is linked to economic inequality, usually described as the basis of the unequal distribution of income or wealth.