Category: Inequality Economics
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Examples of Rent Seeking: Lobbying
After we saw what rent seeking was, we’re going to look into the different ways in which it can be carried out. Our first example is lobbying, which is often done by corporations to sway the decisions of politicians in their favour. An investment with a 19900% return – sounds absurd, and even impossible, but…
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What is Rent Seeking?
A concept that has its origins in the 1970s, rent seeking is a type of behaviour which has been cited by renowned economists such as Joseph E. Stiglitz as a key cause of inequality. In this article and future ones, we will explore what the actual theory is, its impacts and examples of it being…
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COVID and Inequality: Health
In this last article, and thus the final argument of the essay, we move on to the impact of the coronavirus pandemic on health inequality, and in what forms this may have taken place. In addition, we collect our arguments and state our conclusion to the question ‘How has the COVID-19 pandemic impacted inequalities?’. Finally,…
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COVID and Inequality: Education
The second inequality we investigate in this series of articles is education inequality – how has COVID affected students, from pre-school to post-16? Education is vital for any economy, as it provides a skilled labour force and leads to future economic growth through a positive feedback loop. Therefore, when a global pandemic strikes, causing millions…
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COVID and Inequality: Wealth
In the first argument of the essay this is adapted from, we look at how the pandemic affected wealth inequality, whether it be positively or negatively. Firstly, wealth is defined as ‘an accumulation of valuable economic resources that can be measured in terms of either real goods or money value’[1]. As mentioned previously, the metric…
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COVID and Inequality: Introduction
The following series of articles will be based on and adapted from an essay I wrote for the NCH Economics Essay Competition 2022 (hence the formal language), answering the question ‘How has the COVID-19 pandemic impacted inequalities?’. I was a Finalist in this competition, meaning I was in the top 5% of the 5000+ entrants…
Economics 101 