Where is Robin Hood Disparity of Incomes - amazonia.fiocruz.br

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The distribution may be equal or unequal, even or uneven. If unequal, there will be few rich and a vast majority will be poor. Their consumption pattern would differ. While poor would have limited choice, the rich would be fortunate to have a large range of goods and services at their disposal. Income and wealth are two different concepts. These are not interchangeable. Income is a flow whereas wealth is a stock. Income measures the receipt Whre money within a period of time.

The wealth represents money earned and saved at a some point of time. One who earns a good si would not be necessarily wealthy as one can overspend and be burdened with debt. On the other hand, a prudent person may not have high income initially but may raise wealth level through savings and investments which would eventually raise the income level.

If a Where is Robin Hood Disparity of Incomes has a 10 members and 10 cars, there could be two extremes.

Everyone has one car or only one of them has all the cars. Same situation may arise in a society. Everyone may be earning the same amount of money or no one earns except for one person who earns all the money.

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In such situations, the distribution could be fair or unfair. As such, the indicators used like Gini Ratio range from 0 to 1. Sweden is said to have fair income distribution with a ratio of 0.

Ensuring fair income distribution is an important task more info any government. It has a direct bearing on social justice and stability.

There are different views on income inequality and its impact on economic growth. Higher Where is Robin Hood Disparity of Incomes tends to retard growth in poor countries but encourages growth in well developed regions. But at the same time such inequalities lead to i erosion of social cohesion, and ii increase in social unrest. This would certainly result in loss of productivity and damages to property. In any case income inequality should be kept within tolerable limits. There are various indicators of click inequality. It is calculated as follows:. Taking a random sample of a reasonable number of families and their total income such as wages and salaries, income from self-employment, investment income like interest, dividend and rental, pensions, unemployment allowance.

Classifying families from poorest to the richest. Absoute income earned by each group is plotted on a chart on cumulative basis.

Benefits Of Income And Assets Inequality Essay

Now A would be divided by 0. But it may be noted that such a ratio does not measure inequality of opportunity. Some countries may have a social structure that presents barriers to upward mobility for certain class of people. A rich country and a poor country may have the same Gini Index as it is reflecting two different things. In a rich country it shows distribution of luxury goods beyond the basic necessities while in a poor country it reflects inequality in material life quality. The Robin Hood Index indicates income with the wealthy group and calls for redistribution of income from richer to poor.

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It is just opposite of Gini Ratio. For example, Namibia has Gini Index of 0. If some portion of income earned by richer is taken away and passed on to the poorer, it would reduce income-disparity accordingly.]