Kuznets Curve

Introduction to Kuznets Curve

The Kuznets Curve is a graphical representation of the relationship between economic development in a country and income inequality over time. It is hypothesized that as an economy develops, the level of income inequality first rises and then declines. The curve suggests that income inequality first increases and then decreases as a country develops from an agrarian to an industrial and post-industrial economy.

Parameter usage:

• gdpPerCapita= Gross Domestic Product (GDP) per capita

Output:

• Various messages related to the Kuznets Curve depending on the GDP per capita

Data validation

The GDP per capita should be a non-negative number.

Summary

The Kuznets Curve is an important concept in the field of development economics, providing insights into the relationship between economic growth and inequality in a society.