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Participation inequality usually helps political theorists determine where democracies fail or when political institutions are not democratically responsive. When political systems are too unequal in terms of political participation, it most generally means that there is a breakdown in the ability of all citizens to politically deliberate to ...
Costas Panayotakis has argued that the economic inequality engendered by neoliberalism creates inequality of political power, undermining democracy and the citizen's ability to meaningfully participate. [333] Despite the focus on economic efficiency, some critics allege that neoliberal policies actually produce economic inefficiencies.
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).
[38] [39] More recently, the so-called "Rajan hypothesis" [40] posited that income inequality was at the basis of the explosion of the 2008 financial crisis. [41] The reason is that rising inequality caused people on low and middle incomes, particularly in the US, to increase their debt to keep up their consumption levels with that of richer ...
Wherever there is a great property, there is great inequality. For one very rich man, there must be at least five hundred poor, and the affluence of the few supposes the indigence of the many. The affluence of the rich excites the indignation of the poor, who are often both driven by want, and prompted by envy to invade his possessions.
Economic democracy (sometimes called a democratic economy [1] [2]) is a socioeconomic philosophy that proposes to shift ownership [3] [4] [5] and decision-making power from corporate shareholders and corporate managers (such as a board of directors) to a larger group of public stakeholders that includes workers, consumers, suppliers, communities and the broader public.
Wealth is a fluid concept -- what was considered wealthy a decade ago may no longer seem as rich, thanks to inflation, increased cost of living and a myriad of other factors. How the Definition of ...
Political egalitarianism describes an inclusive and fair allocation of political power or influence, fair processes, and fair treatment of all regardless of characteristics like race, gender, religion, age, wealth or intelligence.