Economic inequality in the context of "Gini coefficient"

Labour economics is the subfield of economics concerned with the study of labour as an input to economic production. Broadly, it surveys labor markets and the ecomic decisions of agents participating in such markets. Topics of study include the labour supply of workers and how it is affected by variables such as age, education, gender and childbearing, as well as the labour demand by firms searching for different forms of labor as an input in the production of goods and services. In addition, labour economics studies, amognst others, phenomena such as schooling, human capital, inequality, unemployment, trade unions, discrimination, technological change, and public policies related to labor markets, such as unemployment benefits, pensions and health care.

Social inequality occurs when resources within a society are distributed unevenly, often as a result of inequitable allocation practices that create distinct unequal patterns based on socially defined categories of people. Differences in accessing social goods within society are influenced by factors like power, religion, kinship, prestige, race, ethnicity, gender, age, sexual orientation, intelligence and class. Social inequality usually implies the lack of equality of outcome, but may alternatively be conceptualized as a lack of equality in access to opportunity.

Social inequality is linked to economic inequality, usually described as the basis of the unequal distribution of income or wealth. Although the disciplines of economics and sociology generally use different theoretical approaches to examine and explain economic inequality, both fields are actively involved in researching this inequality. However, social and natural resources other than purely economic resources are also unevenly distributed in most societies and may contribute to social status. Norms of allocation can also affect the distribution of rights and privileges, social power, access to public goods such as education or the judicial system, adequate housing, transportation, credit and financial services such as banking and other social goods and services.

Upper class in modern societies is the social class composed of people who hold the highest social status. Usually, these are the wealthiest members of class society, and wield the greatest political power. According to this view, the upper class is generally distinguished by immense wealth which is passed on from generation to generation. Prior to the 20th century, the emphasis was on aristocracy, which emphasized generations of inherited noble status, not just recent wealth.

Because the upper classes of a society may no longer rule the society in which they are living, they are often referred to as the old upper classes, and they are often culturally distinct from the newly rich middle classes that tend to dominate public life in modern social democracies. According to the latter view held by the traditional upper classes, no amount of individual wealth or fame would make a person from an undistinguished background into a member of the upper class as one must be born into a family of that class and raised in a particular manner to understand and share upper class values, traditions, and cultural norms. The term is often used in conjunction with terms like upper-middle class, middle class, and working class as part of a model of social stratification.

Political economy—sometimes referred to as comparative economy—is a branch of political science and economics that studies economic systems (such as markets and national economies) and how they are governed by political systems, including laws, institutions, and governments.

The discipline analyzes phenomena such as labour markets, international trade, growth, the distribution of wealth, and economic inequality, as well as the ways in which these are shaped by political institutions, legal frameworks, and public policy. Emerging in the 18th century, political economy is regarded as the precursor to the modern discipline of economics.

Group cohesiveness, also called group cohesion, social harmony or social cohesion, is the degree or strength of bonds linking members of a social group to one another and to the group as a whole. Although cohesion is a multi-faceted process, it can be broken down into four main components: social relations, task relations, perceived unity, and emotions. Members of strongly cohesive groups are more inclined to participate readily and to stay with the group.

National security, or national defence (national defense in American English), is the security and defence of a sovereign state, including its citizens, economy, and institutions, which is regarded as a duty of government. Originally conceived as protection against military attack, national security is widely understood to include also non-military dimensions, such as the security from terrorism, minimization of crime, economic security, energy security, environmental security, food security, and cyber-security. Similarly, national security risks include, in addition to the actions of other states, action by violent non-state actors, by narcotic cartels, organized crime, by multinational corporations, and also the effects of natural disasters.

Governments rely on a range of measures, including political, economic, and military power, as well as diplomacy, to safeguard the security of a state. They may also act to build the conditions of security regionally and internationally by reducing transnational causes of insecurity, such as climate change, economic inequality, political exclusion, and nuclear proliferation.

In political and sociological theory, the elite (/ɛ.ˈliːt/ or /ɪ.ˈliːt/; from French: élite, from Latin: eligere, to select or to sort out) are a small group of powerful or wealthy people who hold a disproportionate amount of wealth, privilege, political power, or skill in a group. Defined by the Cambridge Dictionary, the "elite" are "the richest, most powerful, best-educated, or best-trained group in a society".

American sociologist C. Wright Mills states that members of the elite accept their fellows' position of importance in society. "As a rule, 'they accept one another, understand one another, marry one another, tend to work, and to think, if not together at least alike'." It is a well-regulated existence where education plays a critical role.