SOCIOL 2R03 Lecture Notes - Lecture 4: Longitudinal Study, Poverty Trap, Az Yet
21 May 2020
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Document Summary
Income: the money you receive within a year. Wealth: everything you have minus your debt. In canada/usa wealth is more concentrated than income. Best way to visualize inequality is via a pyramid. Polarization also requires both wealth and poverty,but is conceptually missing its middle". Under polarization, the population is grouped into, or concentrated into two distinct regions or. Poles" of the income distribution one poorer, one richer (no middle class) People tend to see themselves in middle class but fail to take into account things like debt. Higher the value of a, the higher the levels of income inequality. Gina coefficient measures the ratio between equal distribution and the lorenz curve. Canada gets a c grade and ranks 12th out of 17 peer countries. Income inequality in canada has increased over the past 20 years. Since 1990, the richest group of canadians has increased its share of total national income, while the poorest and middle-income groups has lost share.
