Lecture 1 Introduction
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Standard of Living in America Today
STANDARD OF LIVING IN AMERICA TODAY Standard of Living is one of the three areas measured by the American Human Development Index, along with health and education. Standard of living is measured using median personal earnings, the wages and salaries of all workers 16 and over. While policymakers and the media closely track Gross Domestic Product (GDP) and judge America’s progress by it, the American Human Development Index tracks median personal earnings, a better gauge of ordinary Americans’ standard of living. The graph below chronicles two stories of American economic history over the past 35 years. One is the story of extraordinary economic growth as told by GDP; the other is a story of economic stagnation as told by earnings, which have barely budged since 1974 (both in constant dollars). GDP vs. Median Earnings: Change Since 1974 STRIKING FINDINGS IN STANDARD OF LIVING FROM THE MEASURE OF AMERICA 2010-2011: The Measure of America 2010-2011 explores the median personal earnings of various groups—by state, congressional district, metro area, racial/ethnic groups, and for men and women—and reveals alarming gaps that threaten the long-term well-being of our nation: American women today have higher overall levels of educational attainment than men. Yet men earn an average of $11,000 more. In no U.S. states do African Americans, Latinos, or Native Americans earn more than Asian Americans or whites. By the end of the 2007-9 recession, unemployment among the bottom tenth of U.S. households, those with incomes below $12,500, was 31 percent, a rate higher than unemployment in the worst year of the Great Depression; for households with incomes of $150,000 and over, unemployment was just over 3 percent, generally considered as full employment. -
An Evaluation of Poverty Prevalence in China: New Evidence from Four
An Evaluation of Poverty Prevalence in China: New Evidence from Four Recent Surveys Chunni ZHANG, Qi XU, Xiang ZHOU, Xiaobo ZHANG, Yu XIE Abstract In this paper, we calculate and compare the poverty incidence rate in China using four nationally representative surveys: the China Family Panel Studies (CFPS, 2010), the Chinese General Social Survey (CGSS, 2010), the Chinese Household Finance Survey (CHFS, 2011), and the Chinese Household Income Project (CHIP, 2007). Using both international and official domestic poverty standards, we show that poverty prevalence at the national, rural, and urban levels based on the CFPS, CGSS and CHFS are much higher than official estimation and those based on the CHIP. The study highlights the importance of using independent datasets to validate official statistics of public and policy concern in contemporary China. 1 An Evaluation of Poverty Prevalence in China: New Evidence from Four Recent Surveys Since the economic reform began in 1978, China’s economic growth has not only greatly improved the average standard of living in China but also been credited with lifting hundreds of millions of Chinese out of poverty. According to one report (Ravallion and Chen, 2007), the poverty rate dropped from 53% in 1981 to 8% in 2001. Because of the vast size of the Chinese population, even a seemingly low poverty rate of 8% implies that there were still more than 100 million Chinese people living in poverty, a sizable subpopulation exceeding the national population of the Philippines and falling slightly short of the total population of Mexico. Hence, China still faces an enormous task in eradicating poverty. -
The Human Development Index (HDI)
Contribution to Beyond Gross Domestic Product (GDP) Name of the indicator/method: The Human Development Index (HDI) Summary prepared by Amie Gaye: UNDP Human Development Report Office Date: August, 2011 Why an alternative measure to Gross Domestic Product (GDP) The limitation of GDP as a measure of a country’s economic performance and social progress has been a subject of considerable debate over the past two decades. Well-being is a multidimensional concept which cannot be measured by market production or GDP alone. The need to improve data and indicators to complement GDP is the focus of a number of international initiatives. The Stiglitz-Sen-Fitoussi Commission1 identifies at least eight dimensions of well-being—material living standards (income, consumption and wealth), health, education, personal activities, political voice and governance, social connections and relationships, environment (sustainability) and security (economic and physical). This is consistent with the concept of human development, which focuses on opportunities and freedoms people have to choose the lives they value. While growth oriented policies may increase a nation’s total wealth, the translation into ‘functionings and freedoms’ is not automatic. Inequalities in the distribution of income and wealth, unemployment, and disparities in access to public goods and services such as health and education; are all important aspects of well-being assessment. What is the Human Development Index (HDI)? The HDI serves as a frame of reference for both social and economic development. It is a summary measure for monitoring long-term progress in a country’s average level of human development in three basic dimensions: a long and healthy life, access to knowledge and a decent standard of living. -
The Growth of the Indian Economy: 1860-1960
THE GROWTH OF THE INDIAN ECONOMY: 1860-1960 BY KRISHANG. SAINI* The University of Texas This paper is concerned with an examination of growth trends of the Indian economy between 1860 and 1960. This examination commences with the numerous studies bearing on the more recent part of this period, from about 1900 to 1960. These studies are shown to vary greatly in coverage and comprehensiveness, and their differences and individual shortcomings are assessed. Nevertheless, these studies conclude, without exception, that the Indian economy remained virtually stationary in this period, especially in terms of negligible growth in per capita real income. In contrast to periods since 1900, the study of economic growth during the earlier period has suffered academic neglect. There are only two major studies which make an attempt to examine economic trends in this period. Both these studies are found wanting with respect to concepts and procedures. The period from 1860 to 1913 presents serious problems in any study since there is a paucity of statistics which are at all reliableand useful. The most promising approach for overcoming this deficiency is to develop better sectoral statistics rather than to rely on aggregative data even when available. In order to gain a better understanding of the growth trends of the Indian economy over this period, the author constructed indices of major economic activities. These indices demonstrate that relatively high rate of economic growth prevailed in India before 1890. Subsequent developments in the Indian economy seem to consist of minor changes in the magnitudes of economic variables rather than fundamental structural changes. -
The Economic Foundations of Authoritarian Rule
University of South Carolina Scholar Commons Theses and Dissertations 2017 The conomicE Foundations of Authoritarian Rule Clay Robert Fuller University of South Carolina Follow this and additional works at: https://scholarcommons.sc.edu/etd Part of the Political Science Commons Recommended Citation Fuller, C. R.(2017). The Economic Foundations of Authoritarian Rule. (Doctoral dissertation). Retrieved from https://scholarcommons.sc.edu/etd/4202 This Open Access Dissertation is brought to you by Scholar Commons. It has been accepted for inclusion in Theses and Dissertations by an authorized administrator of Scholar Commons. For more information, please contact [email protected]. THE ECONOMIC FOUNDATIONS OF AUTHORITARIAN RULE by Clay Robert Fuller Bachelor of Arts West Virginia State University, 2008 Master of Arts Texas State University, 2010 Master of Arts University of South Carolina, 2014 Submitted in Partial Fulfillment of the Requirements For the Degree of Doctor of Philosophy in Political Science College of Arts and Sciences University of South Carolina 2017 Accepted by: John Hsieh, Major Professor Harvey Starr, Committee Member Timothy Peterson, Committee Member Gerald McDermott, Committee Member Cheryl L. Addy, Vice Provost and Dean of the Graduate School © Copyright Clay Robert Fuller, 2017 All Rights Reserved. ii DEDICATION for Henry, Shannon, Mom & Dad iii ACKNOWLEDGEMENTS Special thanks goes to God, the unconditional love and support of my wife, parents and extended family, my dissertation committee, Alex, the institutions of the United States of America, the State of South Carolina, the University of South Carolina, the Department of Political Science faculty and staff, the Walker Institute of International and Area Studies faculty and staff, the Center for Teaching Excellence, undergraduate political science majors at South Carolina who helped along the way, and the International Center on Nonviolent Conflict. -
Palau Along a Path of Sustainability, While Also Ensuring That No One Is Left Behind
0 FOREWORD I am pleased to present our first Voluntary National Review on the SDGs. This Review is yet another important benchmark in our ongoing commitment to transform Palau along a path of sustainability, while also ensuring that no one is left behind. This journey towards a sustainable future is not one for gov- ernment alone, nor a single nation, but for us all. Given the SDG’s inherent inter-linkages, we acknowledge that our challenges are also interrelated, and thus so too must be our solutions. The accelerated pace of global change we see today makes it particularly diffi- cult for small island nations, like Palau, to keep up, let alone achieve sustaina- ble development. Despite this challenge, we firmly believe that we can achieve a sustainable future for Palau. Our conviction stems from our certainty that we can confront our challenges by combining our lessons from the past with new information and modern technology and use them to guide us to stay the right course along our path to the future. Just as important, we are also confi- dent in this endeavor because we can also find solutions amongst each other. Over the past three years, Palau has systematically pursued a rigorous process of assessing our Pathways to 2030. Eight inter-sector working groups, led by government ministries, but including representatives from civil society, and semi-private organizations, have prepared this initial Voluntary National Review. The groups have selected an initial set of 95 SDG global targets and associated indicators that collectively constitute our initial National SDG Framework. -
Living Wage Report Urban Vietnam
Living Wage Report Urban Vietnam Ho Chi Minh City With focus on the Garment Industry March 2016 By: Research Center for Employment Relations (ERC) A spontaneous market for workers outside a garment factory in Ho Chi Minh City. Photo courtesy of ERC Series 1, Report 10 June 2017 Prepared for: The Global Living Wage Coalition Under the Aegis of Fairtrade International, Forest Stewardship Council, GoodWeave International, Rainforest Alliance, Social Accountability International, Sustainable Agriculture Network, and UTZ, in partnership with the ISEAL Alliance and Richard Anker and Martha Anker Living Wage Report for Urban Ho Chi Minh City, Vietnam with focus on garment industry SECTION I. INTRODUCTION ....................................................................................................... 3 1. Background ........................................................................................................................... 4 2. Living wage estimate ............................................................................................................ 5 3. Context ................................................................................................................................. 6 3.1 Ho Chi Minh City .......................................................................................................... 7 3.2 Vietnam’s garment industry ........................................................................................ 9 4. Concept and definition of a living wage ........................................................................... -
Is There Such a Thing As an Absolute Poverty Line Over Time?
Is There Such a Thing as an Absolute Poverty Line Over Time? Evidence from the United States, Britain, Canada, and Australia on the Income Elasticity of the Poverty Line by Gordon M. Fisher (An earlier version of this paper was presented October 28, 1994, at the Sixteenth Annual Research Conference of the Association for Public Policy Analysis and Management in Chicago, Illinois. A 9-page summary of this paper is available on the Department of Health and Human Services Poverty Guidelines Web site at http://aspe.os.dhhs.gov/poverty/papers/elassmiv.htm.) For a brief summary of the U.S. evidence in this paper, see Gordon M. Fisher, "Relative or Absolute--New Light on the Behavior of Poverty Lines Over Time," GSS/SSS Newsletter [Joint Newsletter of the Government Statistics Section and the Social Statistics Section of the American Statistical Association], Summer 1996, pp. 10-12. (This article is available on the Department of Health and Human Services Poverty Guidelines Web site at http://aspe.os.dhhs.gov/poverty/papers/relabs.htm.)) The views expressed in this paper are those of the author, and do not represent the position of the U.S. Department of Health and Human Services. August 1995 (202)690-6143 [elastap4] CONTENTS Introduction....................................................1 Evidence from the United States--General Comment................2 Evidence from the United States--Quantitative Studies of Standard Budgets...........................................3 Evidence from the United States--Additional Quantitative Data on Standard -
Chronic Poverty in Sub-Saharan Africa Achievements, Problems and Prospects1
Chronic Poverty in sub-Saharan Africa Achievements, 1 Problems and Prospects 1 The University of Manchester, Insititute for Development Policy and Management and Brooks World Poverty Institute. [email protected] 1 Introduction: The Global Poverty Agenda and the Africa Despite significant progress made in reducing poverty since 2000, there is general consensus that poverty remains a major policy challenge especially in sub-Saharan Africa. On current evidence the global target for MDG1 (halving poverty by 2015) is likely to be achieved thanks mostly to rapid gains in China and India. It should however be remembered that there will still be another half of the ‘original 1990 benchmark poor’ living in poverty. Recent revisions suggest that the figure may be as many as 1.4 billion people, many of who will be Africans2. Probably a third of the people who will remain in poverty will have lived in poverty for most if not all their lives. These are often called the chronically poor. Estimates suggest that between 30 and 40 per cent of up to 443 million people living in chronic poverty are in sub-Saharan Africa.3 Clearly present and future progress in poverty reduction after the MDGs will depend to a large extent on what happens to this core group living in chronic poverty especially in Africa. Current evidence suggests that although the proportion of people living in poverty has declined4 from 58 per cent in 1990 to 51 per cent in 2005,5 sub-Saharan Africa will likely miss the target for MDG1. In fact, the actual numbers of Africans living in poverty has been increasing6. -
The Rise and Fall of Argentina
Spruk Lat Am Econ Rev (2019) 28:16 https://doi.org/10.1186/s40503-019-0076-2 Latin American Economic Review RESEARCH ARTICLE Open Access The rise and fall of Argentina Rok Spruk* *Correspondence: [email protected] Abstract School of Economics I examine the contribution of institutional breakdowns to long-run development, and Business, University of Ljubljana, Kardeljeva drawing on Argentina’s unique departure from a rich country on the eve of World ploscad 27, 1000 Ljubljana, War I to an underdeveloped one today. The empirical strategy is based on building Slovenia a counterfactual scenario to examine the path of Argentina’s long-run development in the absence of breakdowns, assuming it would follow the institutional trends in countries at parallel stages of development. Drawing on Argentina’s large historical bibliography, I have identifed the institutional breakdowns and coded for the period 1850–2012. The synthetic control and diference-in-diferences estimates here suggest that, in the absence of institutional breakdowns, Argentina would largely have avoided the decline and joined the ranks of rich countries with an income level similar to that of New Zealand. Keywords: Long-run development, New institutional economics, Political economy, Argentina, Applied econometrics JEL Classifcation: C23, K16, N16, N46, O43, O47 1 Introduction On the eve of World War I, the future of Argentina looked bright. Since its promulga- tion of the 1853 Constitution, Argentina had experienced strong economic growth and institutional modernization, which had propelled it into the ranks of the 10 wealthi- est countries in the world by 1913. In the aftermath of the war, Argentina’s income per capita fell from a level approximating that of Switzerland to its current middle-income country status. -
Chapter II: Poverty: the Official Numbers
13 Chapter II Poverty: the official numbers Monitoring and reporting on the levels, patterns and trends of poverty have become a standard part of anti-poverty programme design and assessment. With the steady internationalization of the poverty agenda, development or- ganizations, both multilateral and bilateral, have demanded a template for regular reporting, and new concepts, definitions, data sets and instruments have been generated to meet this demand. Every major development organiza- tion produces its own report card, often ranking countries in terms of their performance. Special interest usually attaches to the annual Human Develop- ment Reports of the United Nations Development Programme (UNDP) and, of late, the Millennium Development Goals progress reports; however, it is perhaps the reports of the World Bank on the incidence of poverty based on the dollar-a-day criterion that generate the greatest interest and commentary in the development community. Statistics have an awesome power, and these global accounting exercises present statistical data to journalists, researchers, practitioners and activists as irrefutable facts. What, then, are those ostensible facts? The present chapter provides a summary of the currently most influ- ential versions, largely associated with the World Bank’s dollar-a-day poverty estimates. Global poverty trends: 1981-20051 Poverty is most often measured in monetary terms, captured by levels of in- come or consumption per capita or per household. The commitment made in the Millennium Development Goals to eradicate absolute poverty by halving the number of people living on less than US$ 1.25 dollar a day represents the most publicized example of an income-focused approach to poverty. -
Anna Fadeeva A) Poverty in Bangladesh
Anna Fadeeva A comparative study of poverty in China, India, Bangladesh, and Philippines. Under review in: University of South California Research Paper Series in Sociology a) Poverty in Bangladesh Banladesh is one of the world's most densely populated countries with 150 million people, 26% of whom live below the national poverty line of US $2 per day. In addition, child malnutrition rates are currently at 48%, in condition that is tied to the low social status of women in Bangladeshi society. While Bangladesh suffers from many problems such as poor infrastructure, political instability, corruption, and insufficient power supplies, the country's economy has grown 5-6% per year since 1996. However, Bangladesh still remains a poor, overpopulated, and inefficiently-governed nation with about 45% of the Bangladeshis being employed in the agriculture sector. Rural and urban poverty The World Bank announced in June 2013 that Bangladesh had reduced the number of people living in poverty from 63 million in 2000 to 47 million in 2010, despite a total population that had grown to approximately 150 million. This means that Bangladesh will reach its first United Nations-established Millennium Development Goal, that of poverty reduction, two years ahead of the 2015 deadline. Bangladesh is also making progress in reducing its poverty rate to 26 percent of the population. Since the 1990s, there has been a declining trend of poverty by 1 percent each year, with the help of international assistance. According to the 2010 household survey by the Bangladesh Bureau of Statistics, 17.6 percent of the population were found to be under the poverty line.