Lecture+24+December+6

Lecture+24+December+6 - Todays agenda Inequality and...

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Unformatted text preview: Todays agenda Inequality and poverty Anti-poverty policies Tradeoff between equality and efficiency Student Instructional Rating Surveys On Sakai Log in. Click "All Surveys" on the "My Workspace" page. Inequality Distinct from poverty Inequality of what? Wealth Income http://www.federalreserve.gov/pubs/feds/2009/200913/200913pap.pdf Inequality Distinct from poverty Inequality of what? Wealth Income Over what time period? Inequality Distinct from poverty Inequality of what? Wealth Income Over what time period? Trends in inequality Little change for several decades Sharp increase over last 25 years Wealth inequality Richest 1 percent of households hold > 40 percent of nations wealth Only 20 percent in Britain, Europes most inegalitarian country Income inequality Growing dispersion between high-wage and low- wage families Income distribution over time Typical pattern through the development of economies: Rising inequality as urbanization occurs and migrants find high-wage jobs Falling inequality as high urban wages propagate through the rest of the economy Inverted U Then from World War II through the 1960s, the income distribution was remarkably stable. Interpreting the trends A partial explanation for rising inequality is technological....
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Lecture+24+December+6 - Todays agenda Inequality and...

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