Learn Before
Self-Perpetuation of Wealth and Social Inequality
Figure 9.21: Vicious and Virtuous Circles of Wealth and Poverty
Figure 9.21 provides a visual representation of two feedback loops: a vicious circle that perpetuates poverty (also known as a poverty trap) and a virtuous circle that sustains wealth. The diagram demonstrates that situational risk aversion is a significant factor contributing to the persistence of wealth inequalities. [1]
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Tags
Social Science
Empirical Science
Science
Economy
CORE Econ
Economics
Ch.2 User-centered design process - User Experience Design - Winter 23 @ UI Design in UI @ University of Michigan - Ann Arbor
UI Design in UI @ University of Michigan - Ann Arbor
User Experience Design - Winter 23 @ UI Design in UI @ University of Michigan - Ann Arbor
UI @ University of Michigan - Ann Arbor
User Experience Design @ UI Design in UI @ University of Michigan - Ann Arbor
University of Michigan - Ann Arbor
Introduction to Microeconomics Course
The Economy 2.0 Microeconomics @ CORE Econ
Related
Figure 9.21: Vicious and Virtuous Circles of Wealth and Poverty
Learn After
Evaluating Statements on Vicious and Virtuous Wealth Circles