Inequality Essay

The findings shed light on how socio-economic contexts are predictive of life satisfaction as well as on how social policies can be designed or modified to improve welfare in developing countries.

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This dissertation consists of three essays on the relations of income inequality and government welfare effort with subjective well-being.

The first essay introduces the concepts, reviews the literature linking income inequality and government welfare effort to subjective well-being, and identifies the research gaps.

A rise in trade-to-GDP ratios signifies an increase in the volume and value of trade between countries and regions.

Although trade based on comparative advantage has the potential to stimulate economic growth and lift per capita incomes, it can also lead to a rise in relative poverty.

The essay concludes that the relationship between inequality and life satisfaction is similar (significant and negative) across all country income groups when inequality is perceived as or signals inherent unfairness.

Similarly, the association between government welfare effort and life satisfaction is similar (significant and positive) across all country income groups when the government is perceived to be doing enough for the poor.Income and wealth inequality can be measured in various ways including the Gini coefficient and the Palma Ratio.The latter is a good indicator of the depth of inequality since it tracks incomes flowing to the top ten percent of households and divides by the incomes for the bottom forty percent.This supports the idea that the source of income matters to individuals, even in the context of a conflict-affected resource-rich developing country like Iraq.This research aims to contribute to the current base of knowledge and to policy questions of interest to academia, research institutions, developing country governments, donors, and the public at large.These patterns are also observed for families considered to be vulnerable based on region of residence and the gender of the household head.A noteworthy finding is that income assistance from private sources is also associated negatively with life satisfaction while income from property ownership and assets is associated positively with life satisfaction.One of the hot political and economic issues of the age has been the ability of businesses operating in more than one country (a transitional company) to use shadow pricing and other forms of legal tax avoidance to reduce their liability to pay tax and thereby increase the return to those with an equity stake.Because of tax avoidance, national governments do not generate the revenues needed to pay for public services and welfare systems - both of which can have a progressive effect on the final distribution of income.Piketty predicted that without corrective action, the trend toward ever more concentrated income and wealth would continue, and so he called for a global tax on wealth.Essay On Globalisation And Inequality (Download a pdf version of this essay) Globalisation is a process through which countries, businesses and people become more inter-connected and inter-dependent via an increase in trade in goods and services, cross-border investment and labour migration from one nation to another.

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