Inequality: Definition, Measurement & Impacts

This lecture explores the concept of inequality, covering its definition, measurement, and impacts on society. It delves into various dimensions of inequality, such as economic resources, access to basic services, and opportunities. The lecture also discusses the causes of inequality, including discrimination and economic barriers, and examines the role of market economies in perpetuating inequality. Furthermore, it analyzes income distribution through metrics like the Gini coefficient and intergenerational earnings mobility, highlighting the correlation between inequality and social mobility. The presentation concludes by addressing the potential impacts of the COVID-19 pandemic on income inequality worldwide.