Unit 2: Introduction to Macroeconomics

Lesson 22Wa: Economic Growth in the Less Developed Countries (LDCs)

Something Interesting - Why are we studying this?

Jan. 2014: "The 85 richest people on Earth now have the same amount of wealth as the bottom half of the global population, according to a report released Monday by the British humanitarian group Oxfam International." From: Oxfam report highlights widening income gap between rich, poor Jan. 2018: "Inequality gap widens as 42 people hold same wealth as 3.7bn poorest " From: https://www.theguardian.com/inequality/2018/jan/22/inequality-gap-widens-as-42-people-hold-same-wealth-as-37bn-poorest 42 people's wealth = 3,700,000,000 people's wealth. And, the gap between the rich and the poor is widening. Think about it. In this lesson we will begin to understand why.

HOME Lesson 22Wa