This week in 2 classes (EC4004 and EC4333), I talked about Lorenz curves, Gini distributions, and income inequality.
The recent OECD report shows the inequality in who’s contributing to income tax receipts.
The chart shows Ireland is a very unequal country when it comes to paying tax– the rich pay most.
(HT Ronan for the update)
In a previous post, I set up the status quo for our two class, household society, motivated by the most recent Household Budget Survey data, to formalise my thinking spelled out in this post. The last post was coming to a point where we could feel comfortable talking about aggregate household welfare (as [...]
Also tagged Gini, Gini coefficient, Household income in the United States, Social welfare function, Status quo, United StatesRight, time to get all economic theory on this issue, which I’ve written about before in a less formal way,
Imagine a list of everyone in the country (organised by household), indexed by their incomes. This list looks like the following: , with being the richest household in the list and being the poorest. [...]