Coefficient of determination

Question 1 The globalisation process has had significant impact on the overall economic performance of the nation. This is when South Africa re-joined the scene of international economies in the 1990’s during which time globalisation had begun to gain prominence. Its move from a socialist socialist movement to a democratic system in 1994 has been a major key towards its gain in economic performance during the globalisation period. This is as the first democratically elected president, Nelson…

Boldly stated within a viral video titled "Wealth Inequality in America" is that "[most people] certainly don 't have to go as far as Socialism to find something that is fair for hardworking Americans," a statement that colorfully highlights one of the largest issues in America today: the wealth gap. Using statistics, the creator of the video proves that the saying “While the rich get richer, the poor get poorer” is true; as the rich are given an excess of opportunities to gain more money, the…

America prides itself on being a democratic government and a land of equal opportunity, but does it live up to those standards? Incoming inequality is growing in American society, and the effectiveness of democracy is being threatened by this increasing inequality. While America has claimed to make strides toward racial and gender inequality there is a growing gap between the haves and have nots. This income gap is increasing rapidly between the rich and the middle class and the middle class is…

Inequality will be produced between states, but also within states among different classes. First, this paper will examine inequality within state borders. The Gini coefficient is a tool used to measure the income distribution within the country. A Gini coefficient of 0 means equal distribution of income, while a Gini coefficient of 1 is the most unequal distribution. When the income data is examined in quintiles, one will see inequality rising. The interesting factor being income inequality…

“As I often say, we have come a long way from the days of slavery, but in 2014, discrimination and inequality still saturate out society in modern ways. Though racism may be less blatant now in many cases, its existence is undeniable” (Al Sharpton). Not only has racism been a key factor in the inequality and social stratification in today’s society, but gender and income has also played a key role as well. Social stratification involves hierarchical differences not only in economic positions,…

Objective By the early 90s, capitalism has established itself as the ideal economic system in the world after the collapse of command economy in Communist countries and abandonment of import-substitution strategies in Latin America and other developing countries1. However, over the past two decades, one of the main challenges of capitalism has emerged in the form of widening income inequality across most developed and emerging economies2. The negative effect of income disparity is succinctly…

Both having a strict communist past, Russia and China can be considered Comrades. While the two share similar economic policies and political ideals, they have gone on separate paths since the late 20th century, some changes being more capitalism and others not. Government influence is in essentially all markets, and the fiscal policies set by Russia and China and patron-clientelism are no exception. Fiscal policies dictate how much the government spends and how much it taxes. A key difference…

Introduction On November 19, 1863, President Lincoln delivered a speech during the dedication of the battlefield cemetery at Gettysburg, which hit every main point in less then two minutes. One line in particular, Lincoln states, “It is for us the living, rather, to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced.” (Burns, 2012). Inequality had brought on the civil war, with the issues of slavery and central power which had divided the United…

China’s income inequality started rising when the country’s adapted central planning where attempt to boost fast growth of heavy industries in urban areas when they launched market-oriented reforms and opened the economy in 1978. However, this Chinese economic growth has helped many people get out of poverty. But there are people still suffering from absolute poverty from long-term unemployed, low-income households, rural-urban migrant workers and farmers living in rural areas today. The…

Inequality is increasingly at the forefront of public debate. After seven years, global economies today continue to struggle for recovery from the 2007-2009 Great Recession. Rising inequality is not a new issue, yet the subject and its distribution has been continuously marginalized in the field of mainstream economics. Perhaps it is due to inconsistent views of what economic inequality is, its level of economic consequences, and when inequality becomes unjustified. As a famous economic…