# 经济代写|发展经济学代写Development Economics代考|EC982

## 经济代写|发展经济学代写Development Economics代考|Income – Who Has Technology Affected the Most?

Global wealth in terms of GDP and per capita income is at record levels and development indices for basic indicators such as health and education seem to be improving in most developing countries. The structural transformation in the past decades has lifted hundreds of millions out of poverty and created a strong middle class in many developing countries, thus serving as the engine of further economic growth. However, while incomes between countries have started converging, the incomes within countries have been diverging. The fruits of economic growth have not been uniformly distributed. The World Inequality Report 2018 found the top $1 \%$ of the world captured twice as much real income growth as the bottom $50 \%$ of the population between 1980 and 2016. The same report showed that income inequality (the share of total national income accounted for by the top $10 \%$ of earners) has increased across the world, from China, India and Sub-Saharan Africa to the United States and Europe, with varying magnitudes. A wide variety of reasons have been provided for such increasing inequalities, including changing distribution of political power (Acemoglu and Robinson, 2008), presence and strength of political and economic institutions (Acemoglu and Robinson, 2014), fiscal and social policy (Dervis and Qureshi, 2016), and globalization and technology (Dabla-Norris et al., 2015).
To understand how technology is affecting inequality, it is useful to consider the three ways in which household income distribution is interpreted (UNDP, 2013).

Primary income distribution is the distribution of household incomes consisting of the (sometimes cumulated) different factor incomes such as rent, wages and profits as determined by markets and market institutions for different factors of production within each household before taxes and subsidies.
Secondary income distribution is the distribution of household incomes after deduction of taxes and inclusion of transfer payments (i.e. as determined by fiscal policies).

Tertiary income distribution is the distribution of household incomes when imputed benefits from public expenditure are added to household income, after taxes and subsidies.

## 经济代写|发展经济学代写Development Economics代考|A Luddite’s Nightmare or a Passing Phenomenon?

Technology has brought about immense changes in society, for better or for worse. The narrative so far might suggest a Luddite’s hand behind it. ${ }^3$

Is technology really going to create a true Keynesian “world of leisure”, in which technology replaces humans and humans enjoy more leisure time? There is a spectrum of opinions on whether technology will displace or complement humans. For some more optimistic constituents, the present is not so different from the past. Throughout history, new technologies have been initially accompanied by stagnant wages and rising inequality. This was true during the Industrial Revolution in the early 19th century and during the wave of electrification that began at the end of the 19th century. After some decades, however, these patterns reversed; large numbers of ordinary workers eventually enjoyed robust wage growth thanks to new technology (Bessen, 2015). The steam engine took over from horse-drawn carriages, giving new meaning to the word mobility. In the process, some lost their jobs. But an entire transportation industry was born, which employed many more people subsequently and fuelled industrialization in Europe and around the world.

Whether one takes an optimistic or a cynical view of technology and the permanence of its effects on the society and economy, the paradigm of economic development at large will be in a state of flux and uncertainty for some time to come. The rewards of the second machine age will no doubt be large for some. However, the key to real development in the coming years will be to distribute such rewards more equitably. This will require conscious intervention on the part of governments, societies, corporations and individuals.
Whether the pace of change will be gradual or rapid is also an open question. If the pace of growth in automation and artificial intelligence just in the last five years is any indication, however, the pace of change will accelerate. The disruptions already caused by technology and its capacity to cause more on which economic development efforts of governments and development partners alike are based. The past may not provide sufficient guidance on this.

## 经济代写|发展经济学代写发展经济学代考|是勒德分子的噩梦还是转瞬即逝的现象?

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