● Global inequality ○ Major shift from 19-21 century ○ GDP per capita a dominant indicator of inequality ■ Average income of a country ■ Can measure income gap between Country ■ Country A has a GDP per cap of $60,000 Country B has $6000. ● Will have income difference of 10 ○ Western had increased in GDP after industrial revolution ■ Western Europe, Japan, US ■ 1820-1980 income between countries has made significant differences ■ 80-2000 surge slowed down ■ 2000 countries started to grow significantly again Gini Index ● Significant increase 1820-1980 ● Decline after 2000 ● May be due to rapid growth in India and China ○ Economic slowdown in high-income country ● GDP may be underestimate ○ Could be hidden inequality ○ Non-monetary factors are also a problem ■ Health infra ■ Infant mortality rate ■ Economic infrastructure ■ Literacy rate ■ Educations ○ Dept is also an important hidden factor Country Debt-to-GDP Ratio Japan ~260% United States ~120% Germany ~65% Canada ~110% Nigeria ~35% (low revenue)