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PVAF SEARCHING FOR TRUTH....the theories and analysis of Economics do not reveal Human Income Poverty..created by greed of the few...
Posted by Vishva News Reporter on July 2, 2012 |
ECONOMICS OF
metrics of
Income
inequality |
| (metrics means an
analytical measurement intended to quantify the state of a system. For
example "population density" is one metric which may be used to describe
a city.) |
|
|
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 theories may try to explain how income inequality comes about,
income inequality
metrics simply provide a
system of measurement used to determine the dispersion of incomes.
Income distribution has always been a central concern of
economic theory and
economic policy. Classical economists such as
Adam Smith,
Thomas Malthus and
David Ricardo were mainly concerned with factor income distribution,
that is, the
distribution of income between the main
factors of production, land, labour and capital. It is often related
to
wealth distribution although separate factors influence
wealth inequality.
Modern economists have also addressed this issue, but have been more
concerned with the distribution of income across individuals and
households. Important theoretical and policy concerns include the
relationship between income inequality and
economic growth. The article
Economic inequality discusses the social and policy aspects of
income distribution questions.
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| Today is a blessed day that PVAF is presenting news/Life-Knowledge
sharing To Make Your Tomorrow
Happier Than Today....simply because you will have more
Life-Knowledge to be richer and/or poor as per your lifestyle choice
based on infinite-mode of life-altering-belief-based-thinking.....and
this PVAF presentation was triggered by a information sharing email
titled "How Unequal Is India?"
from Subhash Utturkar,
a retired Mechanical Engineer from Mumbai, India to a PVAF
news-volunteer.....please continue getting tons more on this
Income Inequality
Life-Knowledge and the Occupy Wall
Street movement to counter the Income Inequality.....by
going to the next webpage by clicking on the next line.....and also
please do not forget to go for all the
hyperlinks to peak
your need for learning quest.... |
|
....A
PHOTO IS WORTH THOUSAND WORDS
WHEN TALKING ABOUT INCOME INEQUALITY.... |
the photo below is titled by the
contributor
"The Dharma for Rich and Poor?" |
WildFoxZenBlogsCom
|
Above is
Caracas,
Venezuela.
The shacks on the left are called "ranchos" and are home to over 80% of
the population of 4.2 million in Caracas. Pretty graphic, eh? Now you
might be surprised as I was to learn that the gap between rich and poor
is similar in the US, although the poor often live a bit better. For
now. Which also means that the super wealthy here are even wealthier. If
you're interested, check out this article by
Nicholas Kristoff, "Our Banana
Republic."
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.....AND A QUICK CARTOON PRIMER ON
THE DIFFERENE BETWEEN RICH AND POOR.... |
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|
TheMillionaireSecretNet |
|
And the gist of the above
cartoon is explained in the article
"The 3 Biggest Differences
Between Rich and Poor"..... |
..1.
Rich People Believe that They Create Their Life,
While Poor People Believe that Life Happens to Them....
2. Rich People Focus in Solution
Instead of Problems.....
3. Rich People Play to Win, Poor
People Play to Not Lose... |
|
click on the hyperlinked
article title and surprise yourself with details of these 3 reason... |
|
|
....and now continue reading the
meaning of
INCOME INEQUALITY.... |
Defining income
All of the metrics described below are applicable to evaluating the
distributional inequality of various kinds of resources. Here the focus
is on income as a resource. As there are various forms of "income", the
investigated kind of income has to be clearly described.
One form of income is the total amount of goods and services that a
person receives, and thus there is not necessarily money or cash
involved. If a
subsistence farmer in Uganda grows his own grain it will count as
income. Services like public health and education are also counted in.
Often expenditure or consumption (which is the same in an economic
sense) is used to measure income. The
World Bank uses the so-called "living standard measurement surveys"[2]
to measure income. These consist of questionnaires with more than 200
questions. Surveys have been completed in most
developing countries.
Applied to the analysis of income inequality within countries,
"income" often stands for the taxed income per individual or per
household. Here income inequality measures also can be used to compare
the income distributions before and after taxation in order to measure
the effects of progressive tax rates......
|
......and then just to get an idea of how
this
INEQUALITY OF INCOME
is
misconceived,
misrepresented, misdiagnosed
and
misunderstood
in
the entire humanity.....
....read in the article below
.....
to understand how this
INEQUALITY OF INCOME
....is not interpreted to convey
its
Reality of its
Truth
in
the second most populous democratic nation in the world
and
a nation which is forecast to be
the second or third largest
economic power in the next decade....
|
(From:
EquityMasterCom:
:
By Asad Dossani, Author of
TThe Lucrative Derivative Report)
(Hyperlinks
are provided by PVAF in this article to enhance your
learning/understanding.) |
Asad Dossani |
|
Asad Dossani is a financial analyst and columnist. He actively trades
his own and others' funds, investing primarily in currency, commodity,
and stock index derivative products. Prior to this, he worked at
Deutsche Bank as an analyst in the FX derivatives team. He is a graduate
of the London School of Economics. Asad is a keen observer of
macroeconomic trends and their effects on global financial markets. He
is deeply passionate about educating investors, and encouraging
individuals to take part in and profit from financial markets. To put it
colloquially, he wishes to take Wall Street products and turn them into
Main Street profits! |
|
|
A common criticism of ttp://en.wikipedia.org/wiki/India">India'sa growth story has been that it is very
unequal. The rich get richer while the
poor get poorer is a common
mantra we hear.
Casual observation confirms just how unequal
incomes are
in the country. For example, what the average driver or servant earns in
a year is often less than what the average
middle class
professional
earns in a month.
But does this mean that India is a highly unequal country? Are the poor
not benefitting from the high
economic growth? And how does India's
inequality stack up against the
income inequality in other countries?
Some of the answers are quite surprising, and may show that India's
income inequality is not as bad as it seems at first glance.
First, let's compare India versus other countries. es.
A useful statistic we can look at is the ratio of the average income of
the richest 10% to the average income of the poorest 10%.
Effectively, how many times greater is a rich person's income compared
to a poor person's income? For India, this figure is 8.6. That is,
the income of the richest 10% is 8.6 times higher than the income of the
poorest 10%. Does this seem very high?
Compared to most countries, it is actually on the low end of the scale.
For example,
-for the
US this figure is 15.9.
-for the
UK, this figure is
13.8.
-for
China, this figure is 21.6, and
-for Brazil this figure is
40.6!
Compared to these three countries, India's income inequality is
considerably lower.
The country with the lowest inequality is Japan, for
whom this figure is 4.5. The most unequal countries by this measure are
primarily in Africa and South America. ca.
These statistics tell us that while India does have considerable income
inequality, most other major economies have higher income inequality.
In
particular, other
emerging economies have much higher income inequality.
Another way we can analyze income inequality in India is by looking at
different
Indian states. As we know, some states are considerably richer than
others. But are the poorer states catching up?
|
The richer states (i.e., those with the highest average income per
person) include Delhi,
Haryana,
Goa,
Gujarat, and
Punjab.
The poorer states include
Uttar Pradesh,
Bihar,
Madhya Pradesh,
Manipur,
and Nagaland.
The poorest of these states is Bihar. />
The poorest of these states is Bihar.
growth rate in income per person?
Most of us would probably guess that places like Maharashtra, Delhi,
Karnataka, or Gujarat had the highest growth rates, as these are the
places that have seen more
development and
investment than others.
The
correct answer is none of these places.
correct answer is none of theIn fact, the state with the
highest growth rate in income per person is Bihar, also the poorest
state.
Most of the poorer states have growth rates that are sometimes
higher or roughly equal to the growth rate of the country as a whole.to th
The only exceptions are states with
political problems like
Kashmir and
some states in the northeast, where growth remains well below the
average.
The purpose of this article is to highlight many of the misconceptions
about income inequality in India.
-Compared to other
major economies,
India's income distribution is less unequal than others.
-Furthermore,
many of the poorer states in India have high growth rates implying
eventual convergence.
What is important to point out is that income inequality is a
relative
measure only. It is not about
absolute income levels.
-Poverty is still
widespread in India, and this is a problem that needs to be solved over
time.
-The gap between rich and poor is greater in the US than in India.
-However, the poor in India are much worse off than the poor in the US,
and this is the important distinction to make.
|
Disclaimer by
EquityMasterCom for the above article: EquityMasterCom for the above article: le:
TThe views mentioned above are of the author only. Data and charts, if
used, in the article have been sourced from available information and
have not been authenticated by any statutory authority. The author and
Equitymaster do not claim it to be accurate nor accept any
responsibility for the same. The views constitute only the opinions and
do not constitute any guidelines or recommendation on any course of
action to be followed by the reader. Please read the detailed Terms of
Use of the web site. |
and now to have
an even greater understanding of
INEQUALITY OF INCOME
...study the following hyperlinked titles..
|
|
|
| .....and then continue with the following
hyperlinked titles.... |
....and if you are really tickled by the above
then the following
hyperlinks with make you stop wondering.... |
AND AFTER ALL THIS GAIN OF LIFE-KNOWLEDGE
WITH WHICH RICH PEOPLE KEEPS ON BECOMING RICHER
EVERY DAY THROUGH
HISTORY....
......and poor people keeps on making rich peoples richer...
meaning
poor believe they are getting poorer... |
.....YOU CAN BRAINSTORM TO COME UP WITH
A
HAPPY SOLUTION FOR THIS LIFE
TO BE FAIR AND EQUITABLE
IN
WEALTH CREATION THROUGH
EQUITABLE INCOME
FOR THE DAILY LABOUR
BY ALL WORKERS TRYING TO EARN WEALTH....
....and possibly win a Nobel Prize
worth US$1.5 million for your effort.... |
....SO THEN WHY IS
THE MOST ENLIGHTENED IN THE WORLD
USA CITIZENRY NOT GIVING
DEMOCRATIC PARTY
A FAIR AND EQUITABLE POLITICAL OPPORTUNITY
IN 2011
TO MAKE THEIR
ECONOMICS AND INCOME INEQUITIES
WOES
GO AWAY!!!!!..... |
| and especially when this enlightened USA citizenry have the
brilliance in their souls to start and spread world-wide
THE OCCUPY
WALL STREET protest movement... |
....AND WHAT DOES
THE MOST POWERFUL HUMAN BEING TODAY,
USA PRESIDENT BARRACK OBAMA SAID
ABOUT
OCCUPY WALL STREET PROTESTS....
((from:
InqusiteCom) |
 |
When asked about the Occupy Wall Street movement, President Obama
was surprisingly supportive- the Commander in Chief said:
“Obviously, I’ve heard of it. I’ve seen it on television. I think it
expresses the frustrations that the American people feel that we had the
biggest financial crisis since the Great Depression, huge collateral
damage all throughout the country, all across Main Street and yet,
you’re still seeing some of the same folks who acted irresponsibly
trying to fight efforts to crack down on abusive practices that got us
into this problem in the first place.”
“What I think is that the American people understand that not everybody
has been following the rules, that Wall Street is an example of that,
that folks who are working hard every single day, getting up, going to
the job, loyal to their companies, that that used to be the essence of
the American dream… That’s how you got ahead, the old fashioned way. And
these days a lot of folks who are doing the right thing aren’t rewarded
and a lot of folks who aren’t doing the right thing are rewarded.” |
....and after digesting the intellect
flowing from President Obama
who has been acclaimed as the most
intellectual President of USA
since President John Kennedy (1961-62)
have a smile
while thinking about the ingenuity of
how humanity uses
the concepts of rich and poor
in the status of being really
rich and/or
poor..... |
AMONG POOR
PEOPLE...
...A SIMPLE RIDE ON A 2-WHEELER
AS SEEN IN THE PHOTO BELOW IS....
Food provider for a household for a while
or
A sale in the market for a daily income... |
and
AMONG RICH PEOPLE.....
...THE SAME 2-WHEELER RIDE AS IN
PHOTO BELOW
could be
.......??????!!!!!???????OXOXOXOX:):):):):).... |
.......SEE YOU SOON AGAIN.....
......AND JUST A REMINDER.....
if your forget the hyperlinks clicking....
....then you would never know why
YOUR TOMORROW IS NOT
MORE HAPPIER THAN TODAY.....
.... although you slaved harder than yesterday....
....and worst your harder slavery
may keep making rich richer.... |
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