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UK income inequality is among the highest in the developed world and evidence shows that this is bad for almost everyone.

UK income inequality is among the highest in the developed world and evidence shows that this is bad for almost everyone.


The Unselfish Gene The Idea in Brief Executives, like most other people, have long believed that human beings are interested only in advancing their material interests. However, recent research in evolutionary biology, psychology, sociology, political science, and experimental economics suggests that people behave far less selfishly than most assume. Evolutionary biologists and psychologists have even found neural and, possibly, genetic evidence of a human predisposition to cooperate.

Cannabis Prohibition The debate on whether or not to make cannabis legal has been a subject of controversy for decades. On one side many people think it should remain illegal as they believe it has links to psychosis, lung cancer and is a gateway towards harder drugs. On the other hand many people advocate the legalization believing the supposed dangers of the drug are over exaggerated and it would significantly reduce illegal trade on the black market.

How income inequality contributed to the Great Recession A house in Denver lies empty and under foreclosure as the sub-prime crisis hits the US in 2007. Photograph: Sipa Pres/Rex Features The idea that the Great Recession of 2008 may have been caused not just by careless banking but also social inequality is currently all the rage among macroeconomists. Financial transaction tax A financial transaction tax is a levy placed on a specific type of monetary transaction for a particular purpose. The concept has been most commonly associated with the financial sector; it is not usually considered to include consumption taxes paid by consumers.[1] A transaction tax is not a levy on financial institutions per se; rather, it is charged only on the specific transactions that are designated as taxable. So if an institution never carries out the taxable transaction, then it will never be subject to the transaction tax.[2] Furthermore, if an institution carries out only one such transaction, then it will only be taxed for that one transaction. As such, this tax is neither a financial activities tax, nor a "bank tax",[3] for example. There are several types of financial transaction taxes.

Cultural Hybridity In The UK The age of postmodernism has introduced a sceptical view of social constructs such as culture and has placed more emphasis on the interpretation of each individual person. It is no surprise then, that with rise of Globalization which has seen the process of an integrated global network with different societies mingling together, that new ethnic identities have formed. Stuart Hall states "Modern people of all sorts and conditions, it seems to me, have had, as a condition of survival, to be members simultaneously, of several overlapping 'imagined communities" Over the past few decades the UK population has experienced an influx of cultural diversity with the percentage of white British decreasing from 93% in 2001, to 90% in 2007.

Global Wealth Distribution As we have discussed, from 1979 to 2007, inflation-adjusted incomes of the top 1 percent of households increased significantly versus the rest of the wage earners (i.e., the remaining 99%). Those even better off, the top 0.1 percent (the top one one-thousandth of households), saw their incomes grow 390%. In contrast, incomes for the bottom 90 percent grew just 5 percent between 1979 and 2007. "The Price of Inequality" by Joseph E. Stiglitz Exit from comment view mode. Click to hide this space NEW YORK – America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while we can all think of examples of Americans who rose to the top on their own, what really matters are the statistics: to what extent do an individual’s life chances depend on the income and education of his or her parents? Nowadays, these numbers show that the American dream is a myth.

Robin Hood effect The Robin Hood effect is an economic occurrence where income is redistributed so that economic inequality is reduced. The effect is named after Robin Hood, said to have stolen from the rich to give to the poor. Causes of a Robin Hood effect[edit]

Noam Sayin'? The High Times Interview with Noam Chomsky, Noam Chomsky interviewed by T.A. Sedlak Q: You've spoken out against the War on Drugs, explaining that it's essentially a means to lock up poor people, that it actually increases drug use, and that it serves as an excuse to control foreign nations. Would you briefly elaborate on these points? A: Let's grant that there's a drug problem, for the sake of argument -- drugs meaning, you know, cocaine, marijuana and so on.

Gini coefficient Gini coefficient of national income distribution around the world. This is based on 1989 to 2009 data, estimated by the CIA. Some are pre-tax and transfer, others post-tax income. The Gini coefficient (also known as the Gini index or Gini ratio) (/dʒini/) is a measure of statistical dispersion intended to represent the income distribution of a nation's residents. It was developed by the Italian statistician and sociologist Corrado Gini and published in his 1912 paper "Variability and Mutability" (Italian: Variabilità e mutabilità).[1][2] Is inequality bad for economic growth? - The Washington Post On Wednesday, just as President Obama was giving his big speech on inequality and the economy, the Center for American Progress, a liberal think tank, released three new papers on this very topic. U.S. one dollar bills are arranged for a photograph in London on Wednesday, Feb. 23, 2011. (Chris Ratcliffe - BLOOMBERG) Perhaps the most interesting paper here is economist Jared Bernstein's exploration (pdf) of whether rising income inequality in the United States is bad for economic growth. His conclusion: There are compelling reasons to believe that inequality can harm growth, but it's surprisingly difficult to prove this is happening.

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