World Inequality Database (WID)
The World Inequality Database (WID) is an open-access database that provides extensive historical and comparative data on the distribution of income and wealth, both within and between countries. Maintained by a network of international researchers, it aims to democratize access to economic data and inform public debate on inequality.
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Ch.5 The rules of the game: Who gets what and why - The Economy 2.0 Microeconomics @ CORE Econ
The Economy 2.0 Microeconomics @ CORE Econ
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World Inequality Database (WID)
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Analyzing Factors of Economic Inequality
Two countries, Country A and Country B, have identical levels of income inequality when measured before any taxes are paid or government benefits are received. However, after accounting for taxes and government transfers, Country B shows significantly lower income inequality than Country A. Based on this information, what is the most logical conclusion?
Match each term with the description that best defines it in the context of measuring economic inequality.
Analyzing Factors of Economic Inequality
Assessing Living Standards
Two countries, Country A and Country B, have identical levels of income inequality when measured before any taxes are paid or government benefits are received. However, after accounting for taxes and government transfers, Country B shows significantly lower income inequality than Country A. Based on this information, what is the most logical conclusion?
Evaluating Policies to Address Economic Inequality
Match each term with the description that best defines it in the context of measuring economic inequality.
If a government successfully implements policies ensuring that every citizen receives the same quality of education and has equal access to job opportunities, economic inequality in that society will be completely eliminated.
Assessing Living Standards
A citizen's financial situation is influenced by both their market activities and government policies. Arrange the following items in the correct logical sequence to show the flow from initial earnings to the final amount of money available for spending and saving.
Evaluating Policies to Reduce Economic Inequality
When a small percentage of a country's population holds a disproportionately large share of the nation's total income and wealth, this phenomenon is referred to as ____.
Imagine a society where technological advancements have led to a surge in demand for highly specialized jobs, while simultaneously making many routine, lower-skilled jobs obsolete. As a result, the earnings of individuals with advanced technical training have increased dramatically, while the earnings for those without such training have stagnated or declined. Which underlying cause of economic inequality does this situation most directly illustrate?
Economic inequality is primarily a moral or ethical issue, with minimal direct consequences for a country's overall economic performance and stability.
Evaluating Societal Well-being
The unequal distribution of an individual's or household's accumulated assets, including property, stocks, and savings, measured at a single point in time, is referred to as ______ inequality.
Consider an industry where technology allows a few top performers to serve a global market, such as software development or popular music. In these markets, individuals who are perceived as being even slightly better than their competitors can capture a disproportionately large share of the revenue, leading to extreme differences in income. What is the most accurate economic explanation for this phenomenon?
World Inequality Database (WID)
Intra-Country vs. Inter-Country Inequality in the 14th-17th Centuries
GCIP 2015: Global Consumption and Income Project
Fogel's 'The Fourth Great Awakening and the Future of Egalitarianism' (2000)
Egalitarianism
Arrange the following items in the logical order that describes how an individual's final spendable income is determined, starting from their initial earnings from work or investments.
Over the past two decades, a nation has seen a significant rise in its overall economic output. However, the gap between the highest and lowest earners has widened considerably. High-paying jobs in new technology sectors have grown, while many traditional manufacturing jobs have been replaced by automation. Which of the following statements best analyzes this situation?
Visualizing Income Distribution: A Comparison of Countries by GDP Per Capita and Income Deciles
Our World in Data
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Rising Within-Country Income Inequality in Recent Decades
An economist develops a highly sophisticated mathematical model to explain the causes of wealth inequality. However, they have not yet consulted any historical data, such as tax records or national accounts, to see if the model's assumptions align with observed facts. Based on the arguments about the fundamental role of data in modern economic research, what is the primary weakness of this economist's initial approach?
Resolving a Debate on Economic Inequality
Based on the discussion about the fundamental role of data in economic research, match each economist's specific argument or shared principle to the statement that best describes it.
The Dual Function of Data in Economic Inquiry
The Shift in Economic Methodology
Based on the principles of data-driven economic inquiry, the systematic collection and public presentation of empirical facts about inequality is considered a sufficient condition to resolve the social and political conflicts that arise from wealth disparities.
Investigating the Rise of Income Inequality
Evaluating Competing Economic Explanations
An economist is investigating the recent rise in wealth disparity in a specific country. Based on the principles of data-driven economic inquiry, arrange the following research steps into the most logical and effective sequence.
Two groups are debating a new policy to address economic inequality. Group 1 presents a highly complex economic theory predicting negative outcomes but offers no historical data to support its claims. Group 2 presents extensive historical data from other countries suggesting the policy would be effective but does not offer a detailed theory to explain the mechanisms. Based on the principles of modern, data-driven economic inquiry, which group's position offers a more constructive starting point for a rational policy discussion?
World Inequality Database (WID)