Income and Wealth (Greenwood Guides to Business and by Alan Reynolds

By Alan Reynolds

Why a few individuals are wealthy and others bad should be defined in a couple of methods. source of revenue and Wealth specializes in who will get what and why. It explains the dynamics of source of revenue new release, the way it is measured, and the way such dramatic disparities in distribution happen. The e-book first defines quite a few features of source of revenue, with an emphasis at the hole among the wealthy and the terrible, and reports numerous theories to provide an explanation for the disparities. next chapters speak about such well timed subject matters because the vanishing center classification and the sky-high salaries of CEOs, Hollywood stars, and athletes. the ultimate chapters contemplate the consequences of regulations, akin to the minimal salary, taxes, immigration, and alternate quotas, and extend the dialogue to contemplate foreign comparisons. that includes graphs and charts, a word list of keywords, and a list of references and assets, source of revenue and Wealth explains the tricky, and infrequently arguable, results of financial regulations on members, households, and groups. furthermore, it exhibits how the numbers might be manipulated via policymakers, pundits, newshounds, and lecturers to advertise quite a few agendas—and indicates readers find out how to realize hyberbole and make better-informed judgements.

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Extra info for Income and Wealth (Greenwood Guides to Business and Economics)

Sample text

Two can not live as cheaply as one. 34 Income and Wealth Within that married-couple elite, table 683 shows that in 2003 the median income among married couples in which the husband worked full-time year round and the wife also worked at least part-time was $81,255. The median income among families in which the wife worked but the husband did not was $43,931. And the median income among families in which neither spouse worked was $27,190. In short, incomes of couples when both spouses worked was three times larger than among couples in which neither spouse worked.

Those who define poverty in this strange way surely realize that most people who earn a wage sufficient to keep four people out of poverty are not supporting more than one person and are, on the contrary, frequently claimed as dependents on someone else’s tax return. If one out of four of the nation’s primary breadwinners were actually earning too little to keep their families out of poverty, then the poverty rate would be 25 percent even if all the poor were working (as they definitely are not).

Similarly, average incomes of African American males are still substantially lower than for non-Hispanic white males, although this is much less true of females. Again, such income comparisons between groups need to be adjusted for number of people per household, number of workers, their age, and education. When using household data, one would have to take account of the fact that black marriage rates have declined in recent years, so other households are more likely to include two people and two incomes.

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