Different from each perspective where income is defined as the total availability of monetary funds in the present situation whereas wealth refers to savings or other capital assets collected with the aim of future expenditure. Terefore, i a particular time period, te inequality in income would not affect the wealth distribution spontaneously within a demographic area. O the other hand, i is likely that a country with equal allocation of income has immeasurable inequality of wealth distribution. Cntextually, Gni coefficient is important for the country, a it helps the impact of welfare as well as expenditure distribution on consumers (Bosch & et.
Te above chart indicates that income per head of Fairfield and Leichhardt increased in 2006 and growth was observed in the economic development of the concerned place. Fom the chart it can be analyzed that in 2006, Firfield had a Gini coefficient of 31.87 but in 2011 it decreased to 28.48 (Chart 1 & 3 Appendix). Tis signifies the fact that in 2011, iequality in the distribution of household mortgage expenditure was more as compared in Fairfield.
O the other hand, i can be observed from the above data that Gini coefficient was 29.66 in Leichhardt in the same year. Hwever, Gni coefficient has reduced to 27.54 in 2011that in turn affects income distribution of Leichhardt (Chart 2 & 4 Appendix). Te Gini coefficient data of the two cities thus indicates existence of inequality in income distribution therein. Mreover, i can also be examined for the chart that the inequality with respect to income distribution is likely to increase the chances of economic in as well as in Leichhardt.
Te Gini coefficient chart of 2011 indicates that though individual income was high with respect to the two places, iequality in income distribution is also high, wich is likely to affect economic growth. Te ownership of unequal income distribution was high that resulted in economic gap within the cities. Te income and expenditure distribution are the two essential factors those affect the growth of the economy substantially. Aditionally, icome distribution defines the purchasing power of an individual that in turn is likely influence their behavior.
Te higher rate of income inequality and distribution thus results in inequality in labor market that in turn is likely to affect the condition of household and socio economic growth of the cities. Te inequality of. ..
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