- "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."
A system in which people are ranked based on their economic status or class. It can lead to unequal opportunities, lack of access to basic needs, and institutional policies that benefit the wealthy at the expense of the poor.
History of economic inequality: Understanding the historical roots of economic inequality can help individuals comprehend the origin of classism and social injustice. It involves the study of the evolution of economic systems and the factors that contribute to economic disparities.
Marxist Theory: Marxist theory is an approach that examines the role played by social and economic classes in creating and maintaining inequality. It explains how economic class contributes to inequality and how classism can create social divisions.
Wealth and Income Inequality: Wealth and income inequality refer to the disparities between the rich and the poor. It includes an examination of factors that contribute to the creation of wealth and income disparities and how these disparities manifest in society.
Power and Privilege: Power and privilege refer to the unequal distribution of power and social status based on one's social class. It involves an examination of how power and privilege interact with classism to create social inequities.
Intersectionality: Intersectionality refers to the overlapping of different social identities, such as race, gender, sexuality, and class. It explains how these identities intersect and contribute to social inequities.
Systemic Oppression: Systemic oppression refers to the ways in which societal structures and institutions contribute to the creation and continuation of classism and other social injustices.
Social Mobility: Social mobility refers to the ability of individuals to move up or down the social and economic ladder based on their merit and effort. It involves an examination of the barriers that prevent social mobility and how they contribute to classism.
Education Inequality: Education inequality refers to disparities in access to education and the quality of education received based on one's socioeconomic status. It involves an examination of the factors that contribute to education inequality and how it impacts one's social and economic status.
Globalization and Economic Inequality: Globalization refers to the process of international integration resulting from the exchange of goods, ideas, and culture. It examines how globalization impacts economic inequality and how it contributes to global classism.
Wage Gap: Wage gap refers to the differences in pay between different social classes. It involves an examination of the factors that contribute to wage gaps and how they impact social and economic inequality.
Income Inequality: This refers to differences in income between individuals or groups, often caused by disparities in job opportunities, education, or social status.
Wealth Inequality: This refers to differences in accumulated assets, such as property, investments, and savings.
Educational Inequality: This refers to differences in access to education and opportunities resulting from a lack of resources, poor infrastructure, or discrimination based on social status.
Racial Inequality: This refers to disparities in opportunities and resources based on one's race or ethnicity.
Gender Inequality: This refers to disparities and discrimination based on one's gender, including the gender wage gap and unequal representation in leadership positions.
Caste-based inequality: This refers to a social hierarchy that is often based on religion or ancestral profession in which individuals are discriminated against and denied opportunities based on their caste.
Spatial Inequality: This refers to disparities in access to resources and opportunities based on one's geographic location.
Occupational Inequality: This refers to disparities in opportunities and treatment based on one's job or profession, including wage discrimination and lack of upward mobility.
Inter-generational Inequality: This refers to disparities that are passed down from generation to generation, such as inherited wealth and access to resources.
Age-Based Inequality: This refers to differences in opportunities, treatment, and access to resources based on one's age, such as discrimination against older workers or the lack of resources for children and youth.
- "Each of these can be measured between two or more nations, within a single nation, or between and within sub-populations."
- "Income inequality metrics are used for measuring income inequality, the Gini coefficient being a widely used one."
- "Another type of measurement is the Inequality-adjusted Human Development Index, which 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, when world income was distributed bimodally into 'rich' and 'poor' countries."
- "Income levels across countries have been converging, with most people now living in middle-income countries."
- "In this period, approximately 90 percent of advanced nations increased their income inequality with 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."
- "In advanced economies, public social spending includes pensions and family benefits."
- "While the 'optimum' amount of economic inequality is widely debated, there is a near-universal belief that complete economic equality (Gini of zero) would be undesirable and unachievable."
- "Inequality is at the center stage of economic policy debate across the globe, as government tax and spending policies have significant effects on income distribution."
- "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"
- "political and social instability, including revolution, democratic breakdown and civil conflict"
- "whereas globalization has reduced the inequality between nations"
- "taxes and transfers decrease income inequality by one-third, with most of this being achieved via public social spending"
- "Important concepts of equality include equity, equality of outcome, and equality of opportunity."