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On March 30, 2010, three female employees launched a class action gender discrimination lawsuit against Bank of America and Merrill Lynch.The suit, which was filed by Judy Calibuso, a Miami financial adviser in Merrill Lynch, and Julie Moss and Dianne Goedtel, former financial advisers at Bank of America, inculpated the companies of providing the male counterparts of the suing employees with ...
These projects link to units in The Economy 2.0, ESPP and The Economy 1.0 and help students explore important questions around real-world challenges such as inequality and climate change. All projects come with step-by-step instructions and exercise solutions and students can decide to complete them in R, Excel, Google Sheets or Python.
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
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]
The poverty gap index ignores the effect of inequality between the poor. It does not capture differences in the severity of poverty amongst the poor. As a theoretical example, consider two small neighborhoods where just two households each are below the official poverty line of US$500 income per year.
The Gini index is also widely used within the World Bank. [11] It is an accurate and reliable index for measuring income distribution on a country by country level. The Gini index measurements go from 0 to 1 for 1 being perfect inequality and 0 being perfect equality. The world Gini index is measured at 0.52 as of 2016. [12]
A study across 85 countries by three World Bank economists, Vinod Thomas, Yan Wang, and Xibo Fan, estimated Mali had the highest education Gini index of 0.92 in 1990 (implying very high inequality in educational attainment across the population), while the United States had the lowest education inequality Gini index of 0.14. Between 1960 and ...
United States Department of the Treasury. After the freeing up of world capital markets in the 1970s and the repeal of the Glass–Steagall Act in 1999, banking practices (mostly Greenspan-inspired "self-regulation") and monetized subprime mortgages sold as low risk investments reached a critical stage during September 2008, characterized by severely contracted liquidity in the global credit ...