SOC100H1 Lecture Notes - Lecture 8: International Inequality, Human Capital, Consumer Choice
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SOC100H1 Full Course Notes
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Document Summary
Global inequality: the widely different opportunities people in different societies have for securing a good life. The global north: countries in the northern higher-income countries like canada , us. A handy measure of income and wealth inequality - the gini index. Line of inequality (lorenze curve) - lies between line of equality- Cumulative share of people from lowest to highest incomes. In a perfectly equal society 10% of pop. would get 10% of income, 20% of pop. would get 20% of income etc. Many low-income countries are more unequal than higher-income ones. Scandinavia, canada, australia and western europe are fairly equal. The wealthiest people in the world control most of the world"s wealth. The top 20% of the worlds pop. control over 80% of the world"s wealth. The worlds wealthiest . 001% controls 30% of the world"s wealth. This reflects huge differences per capita wealth around the world.
