Diplomacy & Politics Glossary

Thomas Piketty's analysis of wealth concentration and inequality trends in modern economies.

The gap between individuals or communities with differing access to information and communication technologies.

The excess payment made to a factor of production due to its scarcity rather than its contribution to productivity.

A statistical measure of income or wealth inequality within a population, ranging from 0 to 1.

The process by which wealth concentrates over time, leading to increasing inequality unless checked by policy.

The analysis showing that when the return on capital exceeds economic growth, wealth inequality tends to increase.

Thomas Piketty’s analysis of wealth accumulation and its role in increasing economic inequality over time.

Thomas Piketty's analysis showing how wealth accumulates faster than economic growth, increasing inequality over time.

Analysis of how capital accumulation leads to increasing wealth inequality over time in capitalist economies.

The analysis of how the rate of return on capital exceeding economic growth leads to increasing wealth inequality over time.

A self-reinforcing mechanism that causes poverty to persist over time, making it difficult for individuals to escape without external help.

John Rawls's principle allowing social and economic inequalities only if they benefit the least advantaged members of society.

Programs designed to reduce poverty and vulnerability by providing income support and services.

A set of basic social security guarantees ensuring access to essential health care and income security.

Programs designed to provide basic support for vulnerable populations against economic shocks.

Long-term unemployment caused by changes in the economy that make certain skills obsolete or industries decline.

A government program providing all citizens with a regular, unconditional sum of money to ensure a basic standard of living.