Matthew effect

The rich get richer and the poor get poorer

"The rich get richer and the poor get poorer" is an aphorism due to Percy Bysshe Shelley. In A Defence of Poetry (1821, not published until 1840) Shelley remarked that the promoters of utility had exemplified the saying, "To him that hath, more shall be given; and from him that hath not, the little that he hath shall be taken away. The rich have become richer, and the poor have become poorer; and the vessel of the State is driven between the Scylla and Charybdis of anarchy and despotism." It describes a Positive feedback loop (a corresponding Negative feedback loop would be e.g. Progressive tax). "To him that hath" etc. is a reference to Matthew 25:29 (the parable of the talents, see also Matthew effect). The aphorism is commonly evoked, with variations in wording, as a synopsis of the effect of free market capitalism producing excessive inequality. (Wikipedia).

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What do the Rich really Want?

Imagine if oddly, wealthy capitalists didn't primarily want money; but something odder and more hopeful: respect. If you like our films take a look at our shop (we ship worldwide): http://www.theschooloflife.com/shop/all/ Brought to you by http://www.theschooloflife.com Produced in colla

From playlist WORK + CAPITALISM

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Why Are Cold Countries Richer Than Hot Countries?

This video was made possible by our Patreon community! ❤️ See new videos early, participate in exclusive Q&As, and more! ➡️ https://www.patreon.com/EconomicsExplained ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ There are all manner of factors that make poor countries poor and rich countries rich. Many of

From playlist Case Studies

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Lorenz Curves and the Gini Coefficient

techniques for assessing and visualising the degree of income inequality in an economy

From playlist Micro Unit 6: Market Failure and the Government

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How to Make a Country Rich

If you were setting out to make a country rich, what kind of mindsets and ideas would be most likely to achieve your goals? We invent a country, Richland, and try to imagine the psychology of its inhabitants. For gifts and more from The School of Life, visit our online shop: https://goo.g

From playlist WORK + CAPITALISM

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How Wealth Inequality Spiraled Out of Control | Robert Reich

Here it is: The full story of wealth inequality in America. The top 1% holds 15x more wealth than the bottom 50% combined. If you’ve never watched a video of mine, please watch this one. Watch More: Does Trickle-Down Economics Actually Work? ►►https://youtu.be/srJZHQHHT8g 00:00 The Seco

From playlist Corruption in the USA

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Types of Assets: Financial, Tangible, and Intangible

How do people get rich? Rather than having very high-paying jobs, wealth is more easily accumulated through ownership of assets. This is anything of value that can be converted into money. Of course we know about assets like houses and other properties, or even expensive collectibles, but

From playlist Economics

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Tax the Rich!- Econ in Real Life

Are the richest 1% greedy? Should we tax the rich and force them to pay their fair share? What's the first step toward fighting income inequality? These are the questions that I attempt to answer in the video. Do agree with my opinion? What do you think should be done? Let me know in the c

From playlist Econ in Real Life

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Inflation Overview

Basic understanding of Inflation

From playlist Finance

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Humanitarian Engineering, Lecture 27

These lectures are based on a course, ENGR 5050 Humanitarian Engineering, at The Ohio State University by Prof. Kevin M. Passino, passino.1@osu.edu. Course summary: Poverty, sustainability, culture, social justice, development strategies, engineering for sustainable community development.

From playlist Ohio State: Humanitarian Engineering with Kevin Passino | CosmoLearning.org Engineering

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24. Policies, Politics: Can Evidence Play a Role in the Fight Against Poverty?

MIT 14.73 The Challenge of World Poverty, Spring 2011 View the complete course: http://ocw.mit.edu/14-73S11 Instructor: Abhijit Banerjee License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu

From playlist MIT 14.73 The Challenge of World Poverty, Spring 2011

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Theories of Global Stratification: Crash Course Sociology #28

Today we’ll discuss two theories of global stratification. First, we’ll go over modernization theory and Walt Rostow’s Four Stages of Modernization. Next, we’ll explain dependency theory, the legacy of colonialism, and Immanuel Wallerstein’s Capitalist World Economy Model. Crash Course is

From playlist Sociology

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5. Is There a Nutrition-Based Poverty Trap?

MIT 14.73 The Challenge of World Poverty, Spring 2011 View the complete course: http://ocw.mit.edu/14-73S11 Instructor: Esther Duflo License: Creative Commons BY-NC-SA More information at http://ocw.mit.edu/terms More courses at http://ocw.mit.edu

From playlist MIT 14.73 The Challenge of World Poverty, Spring 2011

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Is Wealth Inequality Actually a Problem?

This video was made possible by our Patreon community! ❤️ See new videos early, participate in exclusive Q&As, and more! ➡️ https://www.patreon.com/EconomicsExplained ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ The wealthiest among us today live a life unparalleled by any other human throughout history.

From playlist Case Studies

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Joseph E. Stiglitz: Let's Stop Subsidizing Tax Dodgers

The Nobel Prize-winning economist on why America's future prosperity depends on tax reform today. More related features: http://bit.ly/1k7kcfA

From playlist Corruption in the USA

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Income Inequality- EconMovies #17

Teachers! I created NEW worksheets for all my EconMovies episodes and for all the Crash Course Economics episodes. If you want to learn more about these worksheets and get some samples, fill out this form: https://forms.gle/1XajQCpkmcdw3Spx5 Hey internet, this is Jacob Clifford. Avengers:

From playlist Micro Unit 6: Market Failure and the Government

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Humanitarian Engineering, Lecture 5

These lectures are based on a course, ENGR 5050 Humanitarian Engineering, at The Ohio State University by Prof. Kevin M. Passino, passino.1@osu.edu. Course summary: Poverty, sustainability, culture, social justice, development strategies, engineering for sustainable community development.

From playlist Ohio State: Humanitarian Engineering with Kevin Passino | CosmoLearning.org Engineering

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Should the world ban billionaires? - BBC REEL

During the coronavirus pandemic, the world’s mega-rich got even richer. In fact, 643 billionaires in the United States have seen their wealth increase by almost $850bn in the past six months. Many are now questioning if we should allow billionaires to exist at all. Video by Izabela Cardo

From playlist ReThink

Related pages

Computational fluid dynamics | Preferential attachment | Matthew effect | Negative feedback | Lotka's law | Statistics | Chinese restaurant process | Parable of the talents or minas | Positive feedback