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on it is the other way around class mobility classes are instead categorical groupings based on specific occupational assets that determine life chances as expressed in outcomes such as income health or wealth earnings mobility earning mobility evaluates the relationship between two certain generations by means of linear regression upper math of the long transformed measure of children s and parents earnings total family income mobility and the mobility of women old economic analysis has been making one mistake that they did analysis that focused mostly on the father son pairs and their individual earnings in the last two decades they have expanded their research and now they focus more on the mother daughter pairs as well generally earnings provides a stable measure of well being independently of another financial assets or any kind of transfers labor union edit it is known that labor union reduces the income inequality in both private and public sectors and research conducted by david card et al showed that unionization redressed the income inequality in america and canada especially in their public sectors for american male workers the reduction of wage inequality was 1 7 percent in the private sector while the reduction was 16 2 percent in the public sector for american female workers the reductions were 0 6 percent and 10 7 percent in the private and public sectors respectively in canada reduction effects were likewise more noticeable in the public sector 10 distribution measurement internationally edit main article list of countries by income inequality using gini coefficients several organizations such as the united nations un and the us central intelligence agency cia have measured income inequality by country the gini index is also widely used within the world bank 11 it is an accurate and reliable index for measuring income distribution on a country by country level the gini index measurements go from 0 to 1 for 1 being perfect inequality and 0 being perfect equality the world gini index is measured at 0 52 as of 2016 12 global map of countries by high inequality based on gini index 2022 according to the poverty and inequality platform pip 13 30 30 35 35 40 40 45 45 50 50 trends edit idealized hypothetical kuznets curve global income distribution over time our world in data the chart shows a significant shift of incomes toward higher levels standard economic theory stipulates that inequality tends to increase over time as a country develops and to decrease as a certain average income is attained this theory is commonly known as the kuznets curve after simon kuznets however many prominent economists disagree with the need for inequality to increase as a country develops further empirical data on the proclaimed subsequent decrease of inequality is conflicting across the board a number of industries are stratified across the genders this is the result of a variety of factors these include differences in education choices preferred job and industry work experience number of hours worked and breaks in employment such as for bearing and raising children men also typically go into higher paid and higher risk jobs when compared to women these factors result in 60 to 75 difference between men s and women s average aggregate wages or salaries depending on the source various explanations for the remaining 25 to 40 have been suggested including women s lower willingness and ability to negotiate salary and sexual discrimination 14 15 16 according to the european commission direct discrimination only explains a small part of gender wage differences 17 18 a study by the brandeis university institute on assets and social policy which followed the same sets of families for 25 years found that there are vast differences in wealth across racial groups in the united states the wealth gap between caucasian and african american families studied nearly tripled from 85 000 in 1984 to 236 500 in 2009 the study concluded that factors contributing to the inequality included years of home ownership 27 household income 20 education 5 and familial financial support and or inheritance 5 19 in an analysis of the american opportunity accounts act a bill to introduce baby bonds morningstar reported that by 2019 white families had more than seven times the wealth of the average black family according to the survey of consumer finances 20 there are two ways of looking at income inequality within country inequality intra country inequality which is inequality within a nation or between country inequality inter country inequality which is inequality between countries according to intra country inequality at least in the oecd countries a may 2011 report by oecd stated that the gap between rich and poor within oecd countries most of which are high income economies has reached its highest level for over 30 years and governments must act quickly to tackle inequality 21 furthermore increased inter country income inequality over a long period is conclusive with the gini coefficient using ppp exchange rate unweighted by population more than doubling between 1820 and the 1980s from 20 to 52 nolan 2009 63 22 however scholars disagree about whether inter country income inequality has increased milanovic 2011 23 remained relatively stable bourguignon and morrisson 2002 24 or decreased sala i martin 2002 25 since 1980 what milanovic 2005 26 calls the mother of all inequality disputes emphasizes this debate by using the same data on gini coefficient from 1950 to 2000 and showing that when countries gdp per capita incomes are unweighted by population income inequality increases but when they are weighted inequality decreases this has much to do with the recent average income rise in china and to some extent india who represent almost two fifths of the world notwithstanding inter country inequality is significant for instance as a group the bottom 5 of us income distribution receives more income than over 68 percent of the world and of the 60 million people that make up the top 1 of income distribution 50 million of them are citizens of western europe north america or oceania milanovic 2011 116 156 23 larry summers estimated in 2007 that the lower 80 of families were receiving 664 billion less income than they would be with a 1979 income distribution or approximately 7 000 per family 27 not receiving this income may have led many families to increase their debt burden a significant factor in the 2007 2009 subprime mortgage crisis as highly leveraged homeowners suffered a much larger reduction in their net worth during the crisis further since lower income families tend to spend relatively more of their income than higher income families shifting more of the income to wealthier families may slow economic growth 28 specify in a ted presentation shown here hans rosling presented the distribution and change in income distribution of various nations over the course of a few decades along with other factors such as child survival and fertility rate as of 2018 albania has the smallest gap in wealth distribution with zimbabwe having the largest gap in wealth distribution 29 a 2025 study by buchhaltungsbutler and datapulse research estimated the annual net household income required for a household to belong to the top 10 percent of the income distribution in european countries using data from eurostat eu silc 2024 the highest estimated threshold was recorded in luxembourg where a household required an annual net income of approximately 175 000 to fall within the top income decile other countries with comparatively high thresholds included norway about 133 000 denmark around 121 000 austria approximately 113 000 and ireland about 112 000 lower thresholds were observed in southern and eastern europe for example a household needed an estimated 70 000 in italy and 67 000 in spain to reach the top 10 percent in poland the threshold was approximately 38 600 while in greece it was around 32 900 the lowest estimated figures among the countries examined were reported for bulgaria about 21 900 and turkey approximately 19 300 30 income distribution in different countries edit japan edit despite these issues japan s gini coefficient a measure of income inequality remains lower than in many oecd countries still the relative poverty rate highlights significant economic hardship among certain population segments the government has responded with policies aimed at converting non regular positions to regular ones increasing the minimum wage and enhancing social security for low income families post tax gini coefficient 0 32 unemployment rate 2 6 gdp per capita 40 850 poverty rate 15 7 addressing income inequality in japan moving forward will require policies that tackle demographic challenges ensure fair employment practices and foster inclusive economic growth enhancing the social safety net and providing targeted assistance to vulnerable groups will be key to mitigating income inequality s impacts india edit india s economy was growing rapidly in 2011 but a big section of the population was still living in poverty making income disparity a serious problem 31 post tax gini coefficient in 2011 india s estimated gini coefficient ranged from 0 33 to 0 36 indicating moderate to high levels of income inequality rate of unemployment during this time india s jobless rate was roughly 9 gdp per capita in 2011 the gdp per capita was approximately usd 1 500 indicating a significant income gap between developed countries and india rate of poverty in 2011 more than 20 of indians were living below the country s poverty line making it a high rate of poverty 32 the indian government put in place a number of measures to alleviate economic disparity including the goal of social welfare initiatives like the mahatma gandhi national rural employment guarantee act mgnrega is to provide jobs in rural areas public distribution system pds and other subsidized food programs help low income households maintain food security economic changes like financial inclusion programs that give underprivileged people access to banking services in an effort to promote inclusive growth 33 thailand edit thailand has been ranked the world s third most unequal nation after russia and india with a widening gap between rich and poor according to oxfam in 2016 34 a study by thammasat university economist duangmanee laovakul in 2013 showed that the country s top 20 land owners owned 80 percent of the nation s land the bottom 20 owned only 0 3 percent among those having bank deposits 0 1 percent of bank accounts held 49 per cent of total bank deposits 35 as of 2019 update thai per capita income is us 8 000 a year the government aims to raise it to us 15 000 498 771 baht per year driven by average gdp growth of five to six percent under the 20 year national plan stretching out to 2036 the government intends to narrow the income disparity gap to 15 times down from 20 times in 2018 36 australia edit australia was suffering from the global fallout from the 2008 financial crisis in 2011 but compared to many other industrialized countries its economy remained comparatively strong partly because of its solid mining industry and close trading relations with china post tax gini coefficient in 2011 australia s gini coefficient was roughly 0 33 showing a moderate degree of income inequality by global standards rate of unemployment in 2011 australia s unemployment rate was 5 1 which was consistent with a stable labor market 37 gdp per capita in 2011 the gdp per capita was approximately usd 62 000 indicating a robust economy poverty rate various estimates place the poverty rate between 12 and 13 percent 38 australia s government prioritized resolving income inequities that were made worse by the global economic slump during this time as well as maintaining economic stability 38 among the measures taken to lessen income inequality were bolstering the social safety net by raising welfare payments introducing fiscal measures like progressive taxes that are intended to redistribute income encouraging work by taking steps to increase the number of jobs being created in different industries 39 these measures were a part of australia s larger strategy to guarantee that the country s economic expansion benefited all facets of society especially in light of the unpredictability of the world economy 40 united states edit main article household income in the united states further information income inequality in the united states income growth since 1970 relative income growth organized by percentile classes normalized to 1970 levels graph accounts for both income growth and the hidden decline in the progressivity of the tax code at the top the wealthiest earners having seen their effective tax rates steadily fall 41 same data 41 as adjacent chart but plotted on logarithmic scale to show absolute dollar amounts data shows a range of three orders of magnitude a 1000 fold difference 2011 in the united states income has become distributed more unequally over the past 30 years with those in the top quintile 20 percent earning more than the bottom 80 percent combined 42 2019 the wealthiest 10 of american households control nearly 75 of household net worth 43 post tax gini coefficient 0 39 unemployment rate 4 4 gdp per capita 53 632 poverty rate 11 1 44 low unemployment rate and high gdp are signs of the health of the u s economy but there is almost 18 of people living below the poverty line and the gini coefficient is quite high that ranks the united states 9th income inequal in the world 43 the u s has the highest level of income inequality in the western world 45 when measured for all households u s income inequality is comparable to other western countries before taxes and transfers but is among the highest after taxes and transfers meaning the u s shifts relatively less income from higher income households to lower income households in 2016 average market income was 15 600 for the lowest quintile and 280 300 for the highest quintile the degree of inequality accelerated within the top quintile with the top 1 at 1 8 million approximately 30 times the 59 300 income of the middle quintile 46 the economic and political impacts of inequality may include slower gdp growth reduced income mobility higher poverty rates greater usage of household debt leading to increased risk of financial crises and political polarization 47 48 causes of inequality may include executive compensation increasing relative to the average worker financialization greater industry concentration lower unionization rates lower effective tax rates on higher incomes and technology changes that reward higher educational attainment 49 further reading s eisenbarth a chen z f the evolution of wage inequality within local u s labor markets j labour market res 56 2 2022 https doi org 10 1186 s12651 022 00307 6 united kingdom edit inequality in the uk has been very high in the past and did not...