Income and Wealth (Greenwood Guides to Business and - download pdf or read online

By Alan Reynolds

Why a few individuals are wealthy and others bad should be defined in a few methods. source of revenue and Wealth specializes in who will get what and why. It explains the dynamics of source of revenue new release, the way it is measured, and the way such dramatic disparities in distribution occur. The booklet first defines numerous features of source of revenue, with an emphasis at the hole among the wealthy and the bad, and stories a number of theories to provide an explanation for the disparities. next chapters talk about such well timed subject matters because the vanishing heart classification and the sky-high salaries of CEOs, Hollywood stars, and athletes. the ultimate chapters ponder the results of guidelines, resembling the minimal salary, taxes, immigration, and alternate quotas, and extend the dialogue to contemplate overseas comparisons. that includes graphs and charts, a word list of key words, and an inventory of references and assets, source of revenue and Wealth explains the tricky, and infrequently arguable, results of monetary guidelines on contributors, households, and groups. furthermore, it indicates how the numbers could be manipulated by way of policymakers, pundits, reporters, and lecturers to advertise quite a few agendas—and exhibits readers the right way to realize hyberbole and make better-informed judgements.

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Extra resources for Income and Wealth (Greenwood Guides to Business and Economics)

Example text

9 Judged by more than one Gini coefficient, however, the evidence of rising inequality since the mid-1980s is somewhat ambiguous. Top income shares are highly cyclical, particularly if income includes capital gains from stock trading, so some measures of inequality appear to ‘‘worsen’’ after recessions end. The widespread belief in the existence of a long-term trend toward inequality will be explored from various angles throughout the book. The following chapter, in fact, offers several demographic reasons why we should have expected the income gap between top and bottom quintiles to widen over time.

That is partly because singles are often very young or very old and because single households cannot possibly have two salaries. Regardless whether or not one regards this source of inequality as unfair, couples do need more income than singles. Two can not live as cheaply as one. 34 Income and Wealth Within that married-couple elite, table 683 shows that in 2003 the median income among married couples in which the husband worked full-time year round and the wife also worked at least part-time was $81,255.

Between the top and bottom quintiles. The only way that mean income of the top quintile could not have increased relative to mean income of the bottom quintile would be if many in the top group had stopped working, or if twoearner families had not experienced any real salary gains. If inequality is defined in the traditional manner as the gap between average income in the top and bottom quintiles, then differences in the number of workers in those quintiles go a very long way toward explaining why there is such a gap and also why it has grown wider over time.

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