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Income 1 What factors have contributed to increased income inequality since 1969? 2 Should a nation’

Income

1 What factors have contributed to increased income
inequality since 1969?

 

2 Should a nation’s income be distributed to its members
according to their contributions to the production of that total income or
according to the member’s needs? Should society attempt to equalize income or
economic opportunities? Are the issues of equity and equality in the
distribution of income synonymous? To what degree, if any, is income equality
equitable?

 

3 Analyze in detail: “There need be no tradeoff
between equality and efficiency An ‘efficient’ economy that yields an income
distribution that many regard as unfair may cause those with meager incomes to
become discouraged and stop trying So efficiency may be undermined A fairer
distribution of rewards may generate a higher average productive effort on the
part of the population, thereby enhancing efficiency If people think they are
playing a fair economic game and this belief causes them to try harder, an
economy with an equitable income distribution may be efficient as well“

 

Apr 27 2020 View more View Less

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