Income Dispersion Measure
A Income Dispersion Measure is a economic dispersion measure of a population income measure.
- Context:
- output: a Income Dispersion Value (such as a low income dispersion value or a high income dispersion value).
- It can be supported by a Wage Income Dispersion Measure (for a wage income dispersion level).
- It can be supported by a Capital Income Dispersion Measure (for a wage dispersion level).
- Example(s):
- Counter-Example(s):
- See: Wealth Redistribution Policy, Equality Of Outcome, Systems of Measurement, Factors of Production.
References
2014
- (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Income_inequality_metrics Retrieved:2014-5-17.
- Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty [1] and fairness.
Income distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital. It is often related to wealth distribution although separate factors influence wealth inequality.
Modern economists have also addressed this issue, but have been more concerned with the distribution of income across individuals and households. Important theoretical and policy concerns include the relationship between income inequality and economic growth. The article Economic inequality discusses the social and policy aspects of income distribution questions.
- Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty [1] and fairness.
- ↑ For poverty see FGT metrics.
- (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/Economic_inequality Retrieved:2014-3-25.
- Economic inequality (also described as the gap between rich and poor, income inequality, wealth disparity, wealth and income differences or wealth gap[1] ) is the difference between individuals or populations in the distribution of their assets, wealth, or income. The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among countries. The issue of economic inequality involves equity, equality of outcome, equality of opportunity, and life expectancy.[2]
Opinions differ on the utility of inequality and its effects. Some studies have emphasized inequality as a growing social problem.[3] While some inequality promotes investment, too much inequality is destructive. Income inequality can hinder long term growth. Statistical studies comparing inequality to year-over-year economic growth have been inconclusive; however in 2011, researchers from the International Monetary Fund published work which indicated that income equality increased the duration of countries' economic growth spells more than free trade, low government corruption, foreign investment, or low foreign debt. Economic inequality varies between societies, historical periods, economic structures and systems (for example, capitalism or socialism), and between individuals' abilities to create wealth. The term can refer to cross sectional descriptions of the income or wealth at any particular period, and to the lifetime income and wealth over longer periods of time. [4] There are various numerical indices for measuring economic inequality. A prominent one is the Gini coefficient, but there are also many other methods.
- Economic inequality (also described as the gap between rich and poor, income inequality, wealth disparity, wealth and income differences or wealth gap[1] ) is the difference between individuals or populations in the distribution of their assets, wealth, or income. The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among countries. The issue of economic inequality involves equity, equality of outcome, equality of opportunity, and life expectancy.[2]
- ↑ Template:Cite news
- ↑ Template:Cite news
- ↑ Wilkinson, Richard; Pickett, Kate (2009). The Spirit Level: Why More Equal Societies Almost Always Do Better. Allen Lane. p. 352. ISBN 978-1-84614-039-6.
- ↑ Wojciech Kopczuk, Emmanuel Saez, and Jae Song find that “most of the increase in the variance of (log) annual earnings is due to increases in the variance of (log) permanent earnings with modest increases in the variance of transitory (log) earnings.” Thus, in fact, the increase in earnings inequality is in lifetime income. Furthermore, they find that it remains difficult for someone to move up the earnings distribution (though they do find upward mobility for women in their lifetime). See their “Earnings Inequality and Mobility in the United States: Evidence from Social Security Data since 1937,” Quarterly Journal of Economics. 125, no. 1 (2010): 91–128.