Inequality aversionRedistributionWe investigate the effects of inequality aversion on equilibrium labor supply, tax revenue, income inequality, and median voter outcomes in a society where agents have heterogeneous skill levels. These outcomes are compared to those which result from the behavior of ...
One common thread in each of these cases is that inequality coupled with a lack of digital infrastructure leads to one inevitable and unsustainable outcome: the Matthew effect – the rich get richer and the poor get poorer. The Matthew effect is damaging at two levels: one, inequality ...
is even more aversive to them: for example, inequality in health or education. We also learned that people are particularly open to changes in equality when it comes to people who have less agency young kids and babies,
One way I plan to get rich is to invest in private AI companies. To do so, I've invested $150,000 inFundrise's venture capital productso far, which has large exposure to artificial intelligence. This way, I'm hedged if AI does very well. The investment minimum is only $10, so...
How does thisrelate to inequality? Suppose that a major league baseball player who really loves the game would be willing to play for $50,000 per year. If the player is paid $1 million per year, then the difference between that $1 million dollar salary and the amount needed to induce ...
High power distance-oriented employees believe that it’s reasonable to have a power difference between themselves and leaders. And they consider this inequality part as their role positioning (Guo et al.,2020). The response of high power distance-oriented employees to a supervisor’s behavior do...
Economic inequality is also referred to as 'unequal distribution of wealth' or as some people in the last few years have referred to as the 1%. It is the idea that a certain few have more wealth than the rest of us combined. Hence the Wall Street protests w...
These conditions directly affect your well-being in positive and negative ways. For example, a neighborhood may have mass transit that makes it easy to get around and cuts down on pollution. But it may also lack grocery stores where people can buy healthy foods. ...
Earnings inequality, caregiving expenses and other factors can negatively impact women's retirement savings. Women are generally more concerned than men about unexpected expenses and the well-being of children and family. Key Takeaways A recent Prudential survey revealed that women have less than a ...
The standard of living is derived from per capita GDP, determined by dividing GDP by the number of people living in the country. On a broad level, GDP can, therefore, be used to help determine the standard of living. However, economists often make adjustments to GDP,such as using real GD...