Economic inequality comprises all disparities in the distribution of economic An economy is the realized economic system of a country or other area. It includes the production, exchange, distribution, and consumption of goods and services of that area. The study of different types and examples of economies is the subject of economic systems. A given economy is the end result of a process that involves its technological assets In business and accounting, assets are economic resources owned by business or company. Any property or object of value that one possesses, usually considered as applicable to the payment of one's debts is considered an asset. Simplistically stated, assets are things of value that can be readily converted into cash. The balance sheet of a firm and income Income, refers to the consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of. The term typically refers to inequality among individuals and groups within a society, but can also refer to inequality among countries International inequality is inequality between countries . Economic differences between rich and poor countries are considerable. According to the United Nations Human Development Report 2004, the GDP per capita in countries with high, medium and low human development (a classification based on the UN Human Development Index) was 24,806, 4,269 and. Economic Inequality generally refers to equality of outcome Equality of outcome or equality of condition is a form of social justice rhetoric which seeks to reduce or eliminate incidental inequalities in material condition between individuals or households in a society. This usually means equalizing income and/or total wealth to a certain degree by, for example, granting a greater amount of income and/or, and is related to the idea of equality of opportunity Categories: Discrimination | Disability rights | Anti-racism | Civil rights and liberties | Egalitarianism . It is a contested issue whether economic inequality is a positive or negative phenomenon, both on utilitarian and moral grounds.
Economic inequality has existed in a wide range of societies and historical periods; its nature, cause and importance are open to broad debate. A country's economic structure or system (for example, capitalism Capitalism typically refers to an economic and social system in which the means of production are privately controlled; labor and goods are traded in a free market; and profits are regularly reinvested or invested in new technologies and industries. Pure capitalism (laissez-faire) has always only existed in theory and the extent to which different or socialism Socialism refers to any one of various theories of economic organization advocating state, public or common worker ownership and administration of the means of production and distribution of goods, and a society characterized by equal access to resources for all individuals with a more egalitarian method of compensation. Modern socialism), ongoing or past wars, and differences in individuals' abilities to create wealth are all involved in the creation of economic inequality.
There are various Numerical indexes In economics and finance, an index is a single number calculated from a set of prices or of quantities[citation needed]. Examples include the price index, quantity indexes , market performance indexes (such as a labour market index / job Index and stock market indexes). Values of the index in successive periods (days, years, etc.) summarize level for measuring economic inequality. Inequality is most often measured using the Gini coefficient The Gini coefficient is a measure of statistical dispersion developed by the Italian statistician Corrado Gini and published in his 1912 paper "Variability and Mutability" . It is commonly used as a measure of inequality of income or wealth. It has, however, also found application in the study of inequalities in disciplines as diverse as, but there are also many other methods The concept of inequality is distinct from that of poverty and fairness. Income inequality metrics or income distribution metrics are used by social scientists 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. While different.
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Interview with Felice Yeskel author of the book Economic Apartheid in America conducted by Scott Harris Chart of the growing income desparity in the U S The destruction wrought by Hurricane Katrina last fall unmasked the desperate plight of large numbers of poor people living in New
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The capitalists never show any interest to promote the . economic. justice in solving the human problems like poverty, unemployment, . economic inequality. , unequal distribution of income and wealth etc. But now the capitalists in some way or ...
