Inequality Essay

Inequality Essay-33
A rise in trade-to-GDP ratios signifies an increase in the volume and value of trade between countries and regions.Although trade based on comparative advantage has the potential to stimulate economic growth and lift per capita incomes, it can also lead to a rise in relative poverty.Income and wealth inequality can be measured in various ways including the Gini coefficient and the Palma Ratio.

A rise in trade-to-GDP ratios signifies an increase in the volume and value of trade between countries and regions.Although trade based on comparative advantage has the potential to stimulate economic growth and lift per capita incomes, it can also lead to a rise in relative poverty.Income and wealth inequality can be measured in various ways including the Gini coefficient and the Palma Ratio.

The main finding is that there is a negative association between life satisfaction and the receipt of most types of public transfers.

This negative association is mitigated and, in some cases, becomes positive for individuals in the lowest income quintiles.

Finally, it appears that confidence in national institutions and leaders may reduce the adverse effects of inequality.

The final essay examines whether social protection spending is predictive of life satisfaction in Iraq, a conflict-affected and resource-rich developing country.

In the United States, the share of national income claimed by the top 1% of the population climbed from 11% in 1980 to 20% in 2014, compared to just 13% for the entire bottom half of the population.

However, one could argue that the benefits of globalisation can be used to offset this.

One of the hot political and economic issues of the age has been the ability of businesses operating in more than one country (a transitional company) to use shadow pricing and other forms of legal tax avoidance to reduce their liability to pay tax and thereby increase the return to those with an equity stake.

Because of tax avoidance, national governments do not generate the revenues needed to pay for public services and welfare systems - both of which can have a progressive effect on the final distribution of income.

Real wages come under downward pressure and inequality can increase.

We see this in regions of the UK for example where de-industrialisation has taken place leading to much higher rates of long-term unemployment and a worsening of economic and social deprivation.

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