Chile & Privatization - Unionpedia, the concept map

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Difference between Chile and Privatization

Chile vs. Privatization

Chile, officially the Republic of Chile, is a country in western South America. Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector.

BBC News

BBC News is an operational business division of the British Broadcasting Corporation (BBC) responsible for the gathering and broadcasting of news and current affairs in the UK and around the world.

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Economic inequality

Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders). Each of these can be measured between two or more nations, within a single nation, or between and within sub-populations (such as within a low-income group, within a high-income group and between them, within an age group and between inter-generational groups, within a gender group and between them etc, either from one or from multiple nations). Income inequality metrics are used for measuring income inequality, the Gini coefficient being a widely used one. Another type of measurement is the Inequality-adjusted Human Development Index, which is a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, and equality of opportunity. Historically, there has been a long-run trend towards greater economic inequality over time. The exceptions to this during the modern era are the declines in economic inequality during the two World Wars and amid the creation of modern welfare states after World War II. Whereas globalization has reduced the inequality between nations, it has increased the inequality within the population in most nations. Income inequality between nations peaked in the 1970s, when world income was distributed bimodally into "rich" and "poor" countries. Since then, income levels across countries have been converging, with most people now living in middle-income countries. However, inequality within the population in most has risen significantly in the last 30 years, particularly among advanced countries. Research has generally linked economic inequality to political and social instability, including revolution, democratic breakdown and civil conflict. Research suggests that greater inequality hinders economic growth and macroeconomic stability, and that land and human capital inequality reduce growth more than inequality of income. Inequality is at the center stage of economic policy debate across the globe, as government tax and spending policies have significant effects on income distribution. In advanced economies, taxes and transfers decrease income inequality by one-third, with most of this being achieved via public social spending (such as pensions and family benefits). While the "optimum" amount of economic inequality is widely debated, there is a near-universal belief that complete economic equality (Gini of zero) would be undesirable and unachieveable.

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Externality

In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity.

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Great Britain

Great Britain (commonly shortened to Britain) is an island in the North Atlantic Ocean off the north-west coast of continental Europe, consisting of the countries England, Scotland and Wales.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries.

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International Monetary Fund

The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.

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Nationalization

Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state.

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Privatization

Privatization (rendered privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector.

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World Bank

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

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