Guest Lecture Flashcards

(20 cards)

1
Q

What does the Gini coefficient measure?

A

The extent to which income distribution deviates from perfect equality within a country.

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2
Q

What do Gini scores of 0 and 1 represent?

A

0 = perfect equality; 1 = one person holds all wealth.

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3
Q

Approximate Gini scores: Canada vs. U.S.?

A

Canada ≈ 0.3; U.S. > 0.4.

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4
Q

Since the 1960s, how have global within-country inequality levels shifted?

A

Stable overall, but decreased in parts of Asia/Latin America, increased in North America, Europe, East Asia.

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5
Q

Why is wealth considered a better measure of inequality than income?

A

Wealth can be inherited, generates ongoing returns (stocks, assets), and confers power/security.

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6
Q

How do income and wealth disparities differ?

A

Wealth disparities are much larger than income disparities.

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7
Q

Why do stock markets and tax-free savings accounts (TFSAs) increase inequality?

A

They disproportionately benefit those who already have capital to invest.

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8
Q

Between 1981–2015, how much did Canada’s GDP per person grow vs. median hourly wage?

A

GDP per person grew 54%; median wage only 10%.

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9
Q

From 1988–2015, what share of income growth went to the bottom 10% vs. top 10%?

A

Bottom 10% = 3%; Top 10% = 30%.

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10
Q

In 2021, how did incomes change for the top 1%, top 0.1%, and bottom 50%?

A

Top 1% ↑ 9.4%; Top 0.1% ↑ 17.4%; Bottom 50% ↓ 6%.

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11
Q

According to Oxfam (2017), how concentrated is global wealth?

A

8 men held as much wealth as 3.6 billion people.

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12
Q

In Canada, how concentrated is wealth?

A

2 men held as much wealth as the poorest 30% (≈11 million people).

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13
Q

What is social mobility?

A

The ability to move up or down the social hierarchy.

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14
Q

How does high inequality affect social mobility?

A

Reduces it — advantaged groups resist redistributive policies, disadvantaged groups disengage.

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15
Q

What psychological effects does inequality create? (5)

A

Competitive mindset
social evaluative stress
lower trust
increased threat perception
narrowed social capital.

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16
Q

How does inequality affect political participation?

A

Poor people disengage, vote less, and become apathetic.

17
Q

Why do advantaged groups resist hierarchy-attenuating policies under high inequality?

A

Greater inequality increases the perceived risk of “falling,” so they defend the hierarchy.

18
Q

Is growing inequality inevitable?

A

No — reductions have occurred in Canada and other regions.

19
Q

Why is equality of opportunity important?

A

It benefits both the economy and society, and undermining it harms justice and psychological well-being.

20
Q

What happens if inequality is left unchecked?

A

It breeds more inequality, reduces mobility, and worsens social problems.