Tag: Economic Development
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Trade-off Denialism
Trade-off denialism (or Opportunity Cost Neglect) is the disregard for the necessary balance between competing outcomes in decision-making, which can result in policies and strategies that fail to account for critical constraints and limitations.
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Gini Coefficient
The Gini coefficient is a statistical measure used to quantify income or wealth distribution inequality. Ranging from 0 (perfect equality) to 1 (absolute inequality), it’s a widely used tool in economics, despite limitations like not accounting for income levels or inequality sources.