Economic inequality is the variance found in many processes of economic well-being among individuals in a group‚ among groups in a population‚ or among countries. Economic inequality is sometimes called income inequality‚ wealth inequality‚ or the wealth gap. Social inequality arises when resources in society are distributed unevenly‚ through the types of distribution‚ which create specific patterns along the lines of socially defined groups of people. It is the different preference of access of
Premium
In economics‚ deflation is a sustained decrease in the general price level of goods and services.[1] Deflation occurs when the inflation rate falls below zero percent‚ resulting in an increase in the real value of money — a negative inflation rate. This should not be confused with disinflation‚ a slow-down in the inflation rate (i.e. when the inflation decreases‚ but still remains positive).[2] Inflation reduces the real value of money over time‚ conversely‚ deflation increases the real value of
Premium Inflation Economics Money
achieved great economic growth within the last half century despite having been devastated by the korean war and having a GDP per capita in 1960 comparable to the current Republic of Congo[1]. Todays South Korea has a total GDP similar to that of Italy and Canada[1] but how did it get there? The following essay will examine how South Korea achieved this growth and will focus on how foreign aid‚ education‚ import substitution‚ exports and the chaebol helped South Korea’s economic development. Foreign
Premium Economics Economic growth United States
China Economic Review 17 (2006) 395 – 411 Financial development and economic growth: Evidence from China Qi LIANG a‚b‚*‚ Jian-Zhou TENG c‚d b Department of Finance‚ School of Economics‚ Nankai University‚ Tianjin‚ 300071‚ China Graduate School of Commerce and Management‚ Hitotsubashi University‚ Kunitachi‚ 186-8601 Tokyo‚ Japan c Graduate School of Economics‚ Hitotsubashi University‚ Kunitachi‚ 186-8601 Tokyo‚ Japan d School of Mathematics and Statistics‚ Northeast Normal University‚ Changchun
Premium Economics Economic growth Gross domestic product
Alberto Alonso December 1‚ 2012 A.P. American History Essay #21 2. How were the reform movements of 1820-1860 in the United States related to the growth of industry and urban life? During the years 1820-1860‚ America has received a wave of social reformation movements that were in correlation with the growth of industry and urban life. This time period‚ also known as the antebellum era (time period before the Civil War) brought movements such as: the temperance movement (1826-1840’s)‚ the movement
Premium Reform movement Women's suffrage Susan B. Anthony
POPULATION GROWTH AND ECONOMIC DEVELOPMENT The consequences of population growth on economic development have attracted the attention of economists ever since Adam smith wrote his Wealth of nations. It was only Malthus and Ricardo who created an alarm about the effect of population growth on the economy. Population and Economic Development However‚ the consequences of population growth on the development of LDCs are not the same because the conditions prevailing in these countries are quite different
Premium Economics Investment Capital accumulation
DO LARGE POPULATION A KEY TO ECONOMIC PROGRESS Introduction: Thomas Malthus in his published book “An Essay on the Principle of Population” claimed that there is a tendency for the population growth rate to surpass the production growth rate because population increases at a geometrical rate while production increases at an arithmetic rate. Thus‚ the unfettered population growth in a country could plunge it into acute poverty. However‚ the pessimist view has proven unfounded for developed economies
Premium Population growth Economics Population
about the relation between economic growth and financial development. First‚ financial development has impact on economic growth (i.e. Bagehot‚ 1873; Schumpeter‚ 1912; McKinnon‚ 1973; Shaw‚ 1973; Patrick‚ 1966; Goldsmith‚ 1969; Fry‚ 1973). Second‚ economic growth leads to financial development and that where there is economic growth financial development follows (i.e. Robinson‚ 1952). The third view‚ however‚ contends that both financial development and economic growth Granger cause one another.
Premium Economics Economic growth Financial services
Slavery had always had its critics in America‚ so as the slave trade grew‚ so did the opposition. The slave labor enabled the colonies to become so profitable‚ that in 1660 England’s King Charles the second established the royal African company to transport humans from Africa to America. When England finally outlawed its slave trade in 1807‚ America relied on its own internal slave trade. By 1860‚ millions of slaves were still moved and sold in the colonies‚ but no new slaves were imported into the
Premium Slavery American Civil War Thirteenth Amendment to the United States Constitution
In 1600s‚ some Pilgrims and Puritans left from Britain for the New World. They established the first colonies in North Americas. At that time‚ they were under the control of the British government. However‚ less than one century‚ the United States became a strong and powerful country: its territory was expanded; its economic condition was increased; its spirit was created. What led to this transformation from 1770s to 1850s? A lot of essential events took place in the 1770s‚ such as the Boston Massacre
Premium United States Massachusetts Thirteen Colonies