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Economic Inequality

Economic Inequality

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Published by Yousuf Zahid
Economics is all about thinking about ways and means to improve the living standard of all people. The theories, scientific methodologies and tools of economics are directed towards elevating our lives towards a new level of prosperity. If so then why do we continue to see e.g. a doctor earning $300,000 a year and a construction worker who toils more than humanly possible managed to make less than $25,000 per annum. Where does the fault lie? Why is this subject of economic inequality brushed aside? Has the Keynesian theory finally failed or is it something in our psyche that refrains us from coming up with a solution that is truly out-of-the-box?
Economics is all about thinking about ways and means to improve the living standard of all people. The theories, scientific methodologies and tools of economics are directed towards elevating our lives towards a new level of prosperity. If so then why do we continue to see e.g. a doctor earning $300,000 a year and a construction worker who toils more than humanly possible managed to make less than $25,000 per annum. Where does the fault lie? Why is this subject of economic inequality brushed aside? Has the Keynesian theory finally failed or is it something in our psyche that refrains us from coming up with a solution that is truly out-of-the-box?

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Categories:Types, Research
Published by: Yousuf Zahid on Sep 10, 2011
Copyright:Attribution Non-commercial

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04/14/2012

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in Pakistan
Yousuf Zahidyousuf.zahid@live.comSeptember 10, 2011
 
180 million people22.6% under $
1.25 a day
60.3% under $
2 a day
Human Development Index - Purchasing Power ParityInternational Poverty Line by World Bank
(January 2011)
 
 
1/4
th
of the population classified as poor
(
2006
)
 
Uneven wealth distribution10% population earning 27.6% income
Wikipedia

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