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-Give some reasons why there is a positive correlation between the intergenerational inequality and inequality between members of a population at a given moment in time. Considering the economic situation of Yichen, Renfu, Mark, and Stephanie, discussed at the start of the start of chapter 19, give examples of how technology, institutions, and differences in endowments explain economic inequality between these actors, and how inequality between them could change over time.
-Considering also the concern that entire countries may disappear as the level of the oceans rise in response to the melting of the West Antarctic and Greenland ice sheets, reflect on how such an impact of global warming (chapter 20) might interfere (positively or negatively) with the inequality situation in the affected areas. Similarly, consider possible implications from such ecological problems for the pace and the types of technological innovation (chapter 21).
-Moreover, knowing that technological innovation is a powerful driver of economic growth, and keeping with Brynjolfsson and McAfee, how might technological progress affect inequality (chapter 19)?
Use this info and the listed websites to answer the above prompt.
SOURCE ch 21 :https://core-econ.org/the-economy/book/text/21.html
SOURCE ch 19: https://core-econ.org/the-economy/book/text/19.html
SOURCE ch 20: https://core-econ.org/the-economy/book/text/20.html
Chapter 19 addresses the issue of economic inequality. It starts with considerations regarding the differences that may occur in the economic situation of individuals living in the same society, due to different backgrounds at birth. Such “accidents of birth” can affect their economic successes and failures.
Chapter 20 puts heavy emphasis on the economic impacts of global warming. It reports the conclusion from Swedish scientist Svante Arrhenius who, following his estimation in 1896 of the impact of doubling CO2 concentrations in the atmosphere, suggested that ‘the colder regions of the earth’ might want to burn more coal so as to enjoy a ‘better climate’…
Chapter 21 posits that well-being-enhancing innovations are the hallmark of capitalism. At the same time, though, making the most of human creativity and inventiveness is a public policy challenge.