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Luxembourg has the highest average wage in the European Union and eurozone as well as the highest monthly minimum wage in the entirety of Europe. Russia has the largest surplus of those European countries not a member of either (or both) the EU or eurozone. Ukraine has the smallest average wage in Europe, mostly as a result of the ongoing war.
Why Nations Fail: The Origins of Power, Prosperity, and Poverty, first published in 2012, is a book by economists Daron Acemoglu and James A. Robinson, who jointly received the 2024 Nobel Economics Prize (alongside Simon Johnson) for their contribution in comparative studies of prosperity between nations.
The least developed countries (LDCs) are developing countries listed by the United Nations that exhibit the lowest indicators of socioeconomic development.The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) on 18 November 1971.
The first table lists countries by the percentage of their population with an income of less than $2.15 (the extreme poverty line), $3.65 and $6.85 US dollars a day in 2017 international PPP prices. The data is from the most recent year available from the World Bank API. [1] [2] [3]
On May 18, 2014, the English edition reached number one on The New York Times Best Seller list for best selling hardcover nonfiction [3] and became the greatest sales success ever of academic publisher Harvard University Press. [4] As of January 2015, the book had sold 1.5 million copies in French, English, German, Chinese, and Spanish. [5]
Poverty in Italy is generally caused by low income and precarious employment situations, rather than lack of a support network. [16] Certain aspects of Italy's poverty patterns trace their origins to the period of Italian unification in the latter half of the 19th century, significantly influencing pre-existing regional economic disparities, notably the north–south divide. [17]
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).
that Europe's political fragmentation interacted with her institutional innovations to foster substantial areas of "economic liberty," where European merchants could organize production freer of central regulation, faced fewer central restrictions on their shipping and pricing decisions, and paid lower tariffs and tolls than their counterparts ...