Global Income Inequality

Flashcards covering key terms and concepts related to Global Income Inequality.

Income Inequality

Disparities in the distribution of income across a population.

Gini Index

A measurement of income inequality, ranging from zero (perfect equality) to one (one individual possesses all wealth).

Extreme Poverty

Living on less than US$1.90 a day, as defined by the United Nations.

Progressive Tax

A tax policy imposing a higher tax rate based on a person's income to target income inequality.

Palma Ratio

A measure that compares the income share of the top 10% of earners to that of the bottom 40%.

Economic Globalization

The process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.

Robin Hood Tax

A proposed tax on the wealthy aimed at funding services for the poor.

Civil Unrest

Social disorder resulting from a breakdown of social order due to perceived injustice.

Income Gap

The difference in earnings between different groups, often used to describe disparities between genders or racial groups.

Climate Crisis

A long-term change in temperature and typical weather patterns in a place that may worsen economic inequality.