Midterm study guide - Version B

Midterm study guide - Version B - Income inequality metrics...

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Income inequality metrics or income distribution metrics are techniques used by economists 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. These techniques are typically categorized as either absolute measures or relative measures. 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. 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
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Midterm study guide - Version B - Income inequality metrics...

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