"Economic inequality is an umbrella term for a) income inequality or distribution of income, b) wealth inequality or distribution of wealth, and c) consumption inequality."
An analysis of how economic development, globalization, and inequalities shape the economic landscape of different regions.
Economic development theories: These cover the various schools of thought on how economic development works, including classical, neoclassical, modernization, dependency, and institutional theories.
Gross Domestic Product (GDP): A measure of a country's output of goods and services, expressed as the total value of all final goods and services produced within a country's borders in a given period.
Poverty: A lack of resources, relative to others in society, that results in inadequate access to food, shelter, healthcare, and education.
Inequality: The degree to which income, wealth, or other resources are distributed unevenly within a society.
Human development: A broader measure of development that takes into account not only economic factors but also social, health, and environmental factors that affect people's well-being.
Globalization: The increasing interconnectedness of economies and societies around the world, through trade, investment, migration, and communication.
Colonialism: The historical process by which one country takes control of and occupies another country or territory, often for economic gain.
Postcolonialism: A critical perspective on the legacy of colonialism and its effects on the economic, social, and cultural development of formerly colonized societies.
Structural adjustment programs: Policies imposed by international financial institutions such as the IMF and World Bank, aimed at promoting economic growth in developing countries, but often criticized for exacerbating inequality and social hardship.
Neoliberalism: A political and economic ideology that emphasizes free markets, deregulation, and privatization, and has been associated with rising inequality and economic insecurity.
State-led development: A model of economic development in which the government plays a central role in directing investment, directing research and development, and promoting industry.
Social capital: The networks, norms, and trust that facilitate cooperation and collective action in a society, and can have important effects on economic development and inequality.
Institutional quality: The quality of government institutions, including the rule of law, transparency, accountability, and control of corruption, which can have a significant impact on economic development and inequality.
Gender and development: The study of how gender norms and power relations affect economic development and inequality, with a particular focus on women's empowerment.
Culture and development: The study of how cultural factors shape economic development and inequality, including beliefs, norms, values, and customs.
Inclusive Growth: Refers to economic development that is broad-based, and which benefits a wider population in terms of income, employment, and access to basic services.
Pro-Poor Growth: Refers to economic development that is specifically targeted at reducing poverty, often through programs that provide marginalized communities with better access to education, health, and other basic services.
Sustainable Development: Refers to economic development that is environmentally sustainable, and which seeks to balance economic growth with environmental protection and preservation.
Human Development: Refers to economic development that prioritizes human well-being and social welfare, measured by indicators such as life expectancy, education, and quality of life.
Unequal Development: Refers to economic development that increases inequality and widens the gap between the rich and the poor, often through policies that benefit the wealthy at the expense of the poor.
Regional Development: Refers to economic development that is focused on specific regions or areas, often in order to address regional disparities and promote more balanced development across a given country or region.
Globalization: Refers to economic development that is driven by increased integration of economies and markets across borders, often with significant impacts on inequality and the distribution of wealth and resources.
Innovation-led Development: Refers to economic development that is driven by innovation and technological change, often with a focus on knowledge-based industries and high-tech sectors.
"Income inequality metrics, such as the Gini coefficient, are used for measuring income inequality."
"The Inequality-adjusted Human Development Index is a statistic composite index that takes inequality into account."
"Whereas globalization has reduced the inequality between nations..."
"... it has increased the inequality within the population in most nations."
"Income inequality between nations peaked in the 1970s... Since then, income levels across countries have been converging."
"However, inequality within the population in most has risen significantly in the last 30 years, particularly among advanced countries."
"In this period, approximately 90 percent of advanced nations increased their income inequality."
"...over 70% nations recording their Gini coefficient increase, exceeding two points."
"Research has generally linked economic inequality to political and social instability, including revolution, democratic breakdown, and civil conflict."
"Research suggests that greater inequality hinders economic growth and macroeconomic stability."
"...land and human capital inequality reduce growth more than inequality of income."
"In advanced economies, taxes and transfers decrease income inequality by one-third, with most of this being achieved via public social spending."
"...government tax and spending policies have significant effects on income distribution."
"...there is a near-universal belief that complete economic equality (Gini of zero) would be undesirable and unachievable."
"...within a low-income group, within a high-income group and between them, within an age group and between the inter-generational groups, within a gender group and between them etc."
"Important concepts of equality include equity..."
"Important concepts of equality include... equality of outcome..."
"Important concepts of equality include... equality of opportunity."
"...most of this being achieved via public social spending (such as pensions and family benefits)."