The Kuznets Curve - Economic growth & inequality.

[@uhu597]

Thoroughly enjoyed the brief lesson. Please continue to share your knowledge with the masses out there.

[@brendabarsallo9311]

Very clear explanation of the K. Curve. Very helpful. Thank you!

[@tedchiu1433]

Mr. Harris, thank you so much for the explanation! It' s really helpful for me.

[@enterpriseeconomicsbusines7224]

Your welcome!

[@sujata8957]

This video was really helpful in preparing for my exam, thank you sir!

[@Dhruv-_-0.]

Great job man! Clear and concise.

[@rosenate6289]

You just got another subscriber! Concise explanlations, thanks for the help, and keep up the good work!

[@allgoo1990]

You'll find his name Kuznets, in Thomas Piketty's, "capital in the Twenty-first century." numerous times and they are not good. Piketty doesn't criticize Kuznets directly but it sounds more like sarcasm. Kuznets was a servant(or brown noser) for the capitalists. Reagan's famous quote "A rising tide lifts all boats" comes from him.

[@that_3L3NA]

u are very good teacher.Thank u very much brother

[@willgriffiths4702]

Really helpful video that made me understand this graph a lot more, big thanks. Very well explained and easy to follow so credit to sir on this one please keep it up.

[@shamamishra8353]

Thank you sir! You explained really well! Love from India ❤️

[@austinwachira5185]

Excellent! Thanks

[@enterpriseeconomicsbusines7224]

Your welcome.

[@alaric3415]

Cheers for the video mate. Was quite detailed and will help me with my Geography A level exam.

[@lovelybones7080]

Absolutely amazing explanation!

[@AsiriRodrigoAccounting]

Thank you. Good Explanation with examples

[@PortsladeBySea]

Can't see Prime Minister Liz Truss investing in the welfare state. She wants to reduce the role of the state. She says that UK workers must work harder and increase productivity. What does not appreciate is that state benefits have been continually cut over the last 20 + years and companies have reduced their workforce and increase the workload on those workers. On the topic of environmental protection Liz does not see climate change as a political priority. She has repeatedly said that the only political priority for her government is GDP growth, more growth and yet more growth.

[@andrecaribedashpoopa]

Really clear and informative, thanks a bunch!

[@imogenpinelli850]

Thank you so bloody much you knowledgeable legend

[@mayaessam6858]

super informative, enjoyable and simple to follow! thank you :)

[@ravichandraww]

Simple explanation. Thank you

[@peterwang644]

Thank you

[@dreamboatchannel61]

Simple but helpful..tq

[@phantom2k10]

ive got an exam on monday and one of the questions in part a will revolve around kuznets inverted u shape hypothesis,unbalanced growth and inequality.how can i link gini coefficient into this? very informative video btw

[@enterpriseeconomicsbusines7224]

As an economy develops Kuznrts believed inequality would increase thus gini would rise & later fall as welfare & education programs can be provided. This is largely due to the fiscal dividend from high GDP growth

[@iasaspirant4286]

Very nice help phul video

[@salonisharma5406]

Very well explained. Thank you. : )

[@bridgetteg2815]

So clear and concise very helpful thankyou

[@jcon6ixty378]

quick question, could that welfare state be replaced by something more efficient like a negative income tax and have the same positive effect?

[@asianmohamed2065]

Just what i need! I'm writing an essay on how free trade predominantly leads to the exploitation of workers and benefit only the economic elite in developing economies which is due in less than 24 hours! Could you help with what i should/should not include in this essay? Thanks!

[@enterpriseeconomicsbusines7224]

Hey. Free trade or globalisation more broadly? Check this article out: www.google.co.uk/amp/s/www.bbc.co.uk/news/amp/business-37542494 & this: www.economist.com/leaders/2017/10/21/the-right-way-to-help-declining-places?zid=293&ah=e50f636873b42369614615ba3c16df4a Just remember the benefits of globalisation are pretty clear and has helped millions out of abject poverty. Also check: kzbin.info/www/bejne/aKLMqneYoaqhfNk Best wishes

[@howtoshotbow6961]

That hypothesis is complete nonsense, as is Kuznet’s. A simple correlation between two vastly endogenous variables (this case being Gini and GDP/C) is not sufficiency to infer causation, and the correlation isn’t even strong!

[@sameeraoozeer4323]

Thankk youu

[@maitrivyas5106]

Very Helpful , Thankyou

[@salmonsashimi2249]

Hi, your video is very helpful in my studies. I want to ask which indicator is more accurate to represent "income per capita" in a kuznets's curve? Is it GDP per capita or GNI per capita? The indicator for inequality i would be using is the gini index (world bank estimates) Thank you very much

[@enterpriseeconomicsbusines7224]

Great question. It's more common to consider GDP per capita. However, those developing economies who have higher GNI than GDP are often helped by workers who repatriate foreign earned incomes. This often comes through sound education often in fields such as nursing. As such that foreign earned income can help redistribution and reduce inequality. Yet, may cause labour shortages at home.

[@champions1]

top guy

[@BinanceUSD]

Politics works well too as people get rich they want more freedom

[@enterpriseeconomicsbusines7224]

Absolutely, great comment. Hong Kong a case in point

[@Jonathan-pp5zc]

How can you incentivise workers to improve their own human capital when you distribute wealth to them either way?

[@clareboudtj]

Are you a slaveholder intiteled to a wip?

[@ashleytimoh120]

@@clareboudtj WHAT????

[@ricardoajahuanacorina1696]

Vaya vaya😎

[@Fellowtellurian]

I disagree with the Kuznets curve because one, it assumes workers have power/control over the government, which is only the case in a working democracy, and two as workers demand wealth redistribution, the low-income jobs are shipped overseas. I don't think the curve takes a wide enough look at internationalism. Where it is manufacturing jobs or environmental degradation, countries don't get better at managing it, they get better at offsetting it to other places to save costs. I think in theory the curve still holds at a global level, but because the global economy is really only at the first quarter of the curve, we have another 50 years before we reach peak global inequality and at least and until then, businesses are going to make rational economic decisions and move from one country to another finding the one with the weakest environmental rand social egulations and exploit. What we are seeing is that these companies then take money earned on the global market and focus it on creating havens for their businesses by reducing policy risk through lobbying these small, easily influenced countries. Whether that is making the country less democratic, or creating political unrest as to confuse the population into infighting with each other. If we are to have real change and follow the curve as discussed in theory, we the people need to overcome these entrenched interests globally which means Europeans have an interest in influencing American politics and Americans should have an interest in influencing Vietnamese politics.

[@enterpriseeconomicsbusines7224]

Excellent points. Governments have become too large at the expense of their people.

[@Fellowtellurian]

@@enterpriseeconomicsbusines7224 This isn't about the size of the government. It is about the size of the world. A small government would be worse.

[@enterpriseeconomicsbusines7224]

I disagree. The points you cite regarding inequality are largely attributed to the absence of sound money. If money truly acted as a store of value, this would be incredibly powerful for the poorest in society. Instead, fiat paper money is inflated away - a regressive tax on the poor. Meanwhile, financialization enables debtor companies to benefit from inflation. At the same time, infinite paper money facilitates over expansion of the state with the poor and middle classes held as the collateral via their future tax revenues. Sort out the system of money and everything changes. Tragically, few will ever realise this. Bitcoin.