IJSSER

Title: TRENDS IN GLOBAL INCOME EQUALITY AND RELATED ECONOMIC FACTORS
Authors: Dhairya
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Dhairya Delhi Pubic School R.K. Puram
MLA 8 Dhairya. "TRENDS IN GLOBAL INCOME EQUALITY AND RELATED ECONOMIC FACTORS." Int. j. of Social Science and Economic Research, vol. 8, no. 9, Sept. 2023, pp. 2740-2766, doi.org/10.46609/IJSSER.2023.v08i09.018. Accessed Sept. 2023. APA 6 Dhairya. (2023, September). TRENDS IN GLOBAL INCOME EQUALITY AND RELATED ECONOMIC FACTORS. Int. j. of Social Science and Economic Research, 8(9), 2740-2766. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i09.018 Chicago Dhairya. "TRENDS IN GLOBAL INCOME EQUALITY AND RELATED ECONOMIC FACTORS." Int. j. of Social Science and Economic Research 8, no. 9 (September 2023), 2740-2766. Accessed September, 2023. https://doi.org/10.46609/IJSSER.2023.v08i09.018.
References [1]. Chancel & Piketty (2019), Indian Income Inequality, 1922-2015: From British Raj to Billionaire Raj? [2]. Chancel & Piketty (2021), Global Income Inequality, 1820–2020: The Persistence and Mutation of Extreme Inequality [3]. IMF DataMapper / Datasets / World Economic Outlook (October 2022) / GDP per capita, current prices / List (2022) - Analytical group: European Union, World IMF.org. International Monetary Fund [4]. Raymond Zhong (2014) New Poverty Formula Proves Test for India, The Wall Street Journal World Inequality Report 2018, World Inequality Lab
ABSTRACT: This report discusses the historical series of the transnational income inequality database between 1820 & 2020, its persistent evolution and its mutation pattern, depicting the continuance of an elevated hierarchical global economic scenario. Constructing global income allotment computations, the research evaluates the rise of Western superiority and colonialism, the increase in global inequality levels between 1820 & 1910 and then the stabilization of these estimates at an extremely increased level between 1910 & 2020. It goes into detail to discuss between nations and within nations income inequality patterns between 1910 & 2020, which prove to be contradictory to each other. The study elaborates on the pivotal and supplementary income inequality indicators and the regional decomposition of income inequality across the globe. This white paper analyzes income inequality trends in India and provides a comparative analysis with China. Furthermore, it highlights the global economic turnaround trend in the mid-1980s - the transfer of public wealth to private wealth and its impact on income inequality. The report concludes with suggestive measures to reduce global income inequality and provides future projections of revenue and wealth from diverse income groups.

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