Gross Domestic Product

Importances: Terms: ⭐️ Constant prices: Adjusts GDP for changes in inflation. ⭐️ Current prices: Measures GDP using the current price...

Welfare Models

Gøsta Esping Andersen's three welfare models 1) The universal model (or the Scandinavian model) How much redistribution? A lot. Who gets...

Redistribution of incomes

Ways of redistributing income There are three ways of redistribution income: Progressive taxation, i.e. the higher income you have the...