I&I CH8 - CHAPTER 8 INEQUALITIES IN ECONOMICS AND...

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CHAPTER 8 INEQUALITIES IN ECONOMICS AND WORK
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Global Inequalities Average per capita yearly income >29,000 > 3,000 Europeans spend $50 billion on cigarettes and $105 on alcohol It would cost $13 for health care and nutrition and $6 for education Dominance not by force but by financial pressure
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American Inequalities The average American corporate chief executive now makes more in a single day than the average American worker makes in a typical year Tax cuts Access to wealth and access to opportunity Complete equality is not possible and perhaps not even desirable Equality—when people get the same things and are treated the same way Fairness—refers to a situation in which people’s outcomes are proportional to their inputs
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The Middle-Class Squeeze Median Income increased from $36,035 (1980) to $43,318 (2003) But dropped by 2.2% between 2000 and 2002 Decreases are more significant Most of the projected growth in jobs will be in jobs paying <$18,000
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The Face Of American Poverty
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