Capitalism and Inequality a) What were the policies advocat…
Capitalism and Inequality a) What were the policies advocated by the Washington Consensus (WC) and what did Bolivian president, Evo Morales do in opposition to it? b)Using the terms such as gini coefficient, economic growth and distribution or income , what was the outcome of President Morales’ policies? Does capitalism automatically result in inequality? Is it more important to have economic growth or to reduce income inequality? Explain c) According to recent data, Bolivia’s gini coefficient is 40.9%, while the U.S. is at 41.3%. Which country is relatively more unequal? Why do you think Americans tolerate such a high degree of income/wealth inequality despite a high U.S. GDP? Which data would you share with people to influence them to support policies that reduce inequality in the U.S.? Why would you choose this data set? Guidance: define and use terms such as gini coefficient, economic growth, GDP, WC, income inequality. You will want to answer each part in, at minimum 2 paragraphs