lecture19 - Wealth Inequalities 20:07 wealth proprotions...

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Unformatted text preview: Wealth Inequalities 20:07 wealth proprotions one essay gary for Wednesday three main issues 1.growth at the global, natonal, and household level 2. persistent poverty at the national income globally and household level 3. growing income inequality at all levels wages declne after 1280s-1590 (productivity flat), peaks of increasing such as gold in new world, but gold tops out and decreases. Then 1800s industrial revolution productivity increases with technology increase evolution of GDP, seemingly convergence going on after 1800s GDP per capita, not converging. Income differences. income per capita in various countries: Britain on top then America on top. Post decolonization period of huge domestic violent conflict. China after Mao death then increase. Range between wealth in countries has increased No unconditional convergence: if expected countries to converge: then slope would be negative, but no relationship. No correlation of income distribution over time. But when same graph applied to OECD countries, theory holds true. Powerful strength But when same graph applied to OECD countries, theory holds true....
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This note was uploaded on 12/06/2011 for the course CICS 301 taught by Professor Allanstam during the Fall '11 term at University of Michigan.

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lecture19 - Wealth Inequalities 20:07 wealth proprotions...

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