A Quote by Simon Kuznets
Does inequality in the distribution of income increase or decrease in the course of a country's economic growth?
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My research in this period centered around growth, technical change, and income distribution, both how growth affected the distribution of income and how the distribution of income affected growth.
Given the relativity concept, poverty cannot be eliminated. Indeed, an economic upturn with a broad improvement in household income does not guarantee a decrease in the size of the poor population, especially when the income growth of households below the poverty line is less promising than the overall.
The triumph of economic liberalization has coincided with a sharp increase in income inequality.
Monetary policy is a blunt tool which certainly affects the distribution of income and wealth, although whether the net effect is to increase or reduce inequality is not clear.
Two-factor economics makes it clear that our economic problem is not what one-factor (labor-centric) thinkers assert: an inequitable distribution of income. It is an inequitable distribution of productive power, from which an unworkable distribution of income results.
It is true that globalization has fueled greater income inequality. But much of this increase should be welcomed, not condemned. There is nothing inherently bad about inequality. Whether it is bad depends on how it comes about and what it does.
The data does not support that high-income tax cuts are the main drivers of growth, so I don't think that uncertainty over what the tax rate will be for someone that makes a million dollars a year has that big an impact on the economic growth rate in the country.
Increasing inequality in income distribution in this country has broader policy implications, and there is also the growing problem of perverse incentives that result from executives receiving grossly disproportionate compensation based on decisions they themselves take.
Under Obama, income growth has been confined almost entirely to those at the top of the income distribution, continuing a pattern that began under President George W. Bush.
For every challenge we face - unemployment, poverty, crime, income growth, income inequality, productivity, competitiveness - a great education is a major component of the solution.
The increase in inequality in income is a longtime trend, but the pressure on middle- and low-income workers is going up rapidly. Especially if they live in an area where there are high housing and gas prices, like California.
The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.
There's nothing you can do to increase or decrease the love that God has for you, but there are things you can do that increase or decrease your awareness of that love. That's certainly been my experience.
Income inequality has no necessary connection with poverty, the lack of material resources for a decent life, such as adequate food, shelter, and clothing. A society with great income inequality may have no poor people, and a society with no income inequality may have nothing but poor people.
The Donald Trump trade doctrine is this. America will trade with any country, so long as that deal meets these three criterion: You increase the GDP growth rate, you decrease the trade deficit, and you strengthen the manufacturing base.
If the World Bank does not alter its shareholding structure to reflect the shifts in global distribution of income and economic power, its role may get marginalised as regional institutions fill the vacuum.
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