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Social inequality is linked to economic inequality, usually described as the basis of the unequal distribution of income or wealth. Although the disciplines of economics and sociology generally use different theoretical approaches to examine and explain economic inequality, both fields are actively involved in researching this inequality
Income inequality has fluctuated considerably since measurements began around 1915, declining between peaks in the 1920s and 2007 (CBO data [2]) or 2012 (Piketty, Saez, Zucman data [15]). Inequality steadily increased from around 1979 to 2007, with a small reduction through 2016, [2] [16] [17] followed by an increase from 2016 to 2018. [18]
It is politically incorrect to assume that racial inequality is caused by differences in skills or preferences. The lack of open discussion leads to ethnic groups being treated equally. This means that diverse groups receive the same offers which have different advantages for different groups, which further increases inequality.
This represents an additional $7,000 in wages and salaries for each of the 120 million U.S. households. Larry Summers estimated in 2007 that the lower 80% of families were receiving $664 billion less income than they would be with a 1979 income distribution (a period of much greater equality), or approximately $7,000 per family.
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.
While such ratios do not represent the overall level of inequality in the population as a whole, they provide measures of the shape of income distribution. For example, the attached graph shows that in the period 1967–2003, US income ratio between median and 10th and 20th percentile did not change significantly, while the ratio between the ...
(Reuters) -U.S. President-elect Donald Trump's transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, the Wall Street Journal ...
While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. Gini Coefficient: A measure that represents the income or wealth distribution among a nation's residents, with 0 expressing perfect equality and 1 indicating ...