Equal distribution of economic resources : an analysis between Finland and Sri Lanka
Cooke, Erica Macsila (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023121337130
https://urn.fi/URN:NBN:fi:amk-2023121337130
Tiivistelmä
Economies around the world are classified into three groups based on their average level of income, job security and living standards. Developed economies, emerging economies, and developing economies are the three types of economies under this classification. The classification itself makes it clear about the existence of inequality in the world.
Economic resources are needed to satisfy needs of everyone. And everyone has a right for a fair share in economic resources. Therefore, it is vital that economic resources are distributed evenly among everyone. Complete adherence to equal distribution seems unrealistic to achieve. But many economies were able to achieve higher standards in equal distribution. Therefore, this study was aimed at identifying critical factors which facilitate and impair equal distribution and the impact of equal distribution on businesses and enterprises in an economy. Tax system of a country plays a major role in reducing inequality together with various other economic policies relating to social welfare, anti-corruption and tax administration among others.
This study was conducted through reviewing relevant academic literature written on the subject. Secondary data available in official websites of the respective countries and some international organizations were used in the financial and economic analysis. And data and facts contained in few news articles were used to analyze present status of certain elements which were necessary in arriving at conclusions. Conclusions were reached using theoretical facts and written evidence identified through the study of relevant literature written around the concepts.
The findings of this study identify key elements in achieving equal distribution in a society. Comparison of economic policies, taxation system, social welfare system, level of corruption and tax evasion levels in Sri Lanka and Finland provided a great insight into the significance of the above elements and the level of impact equality makes on businesses and enterprises in an economy.
Economic resources are needed to satisfy needs of everyone. And everyone has a right for a fair share in economic resources. Therefore, it is vital that economic resources are distributed evenly among everyone. Complete adherence to equal distribution seems unrealistic to achieve. But many economies were able to achieve higher standards in equal distribution. Therefore, this study was aimed at identifying critical factors which facilitate and impair equal distribution and the impact of equal distribution on businesses and enterprises in an economy. Tax system of a country plays a major role in reducing inequality together with various other economic policies relating to social welfare, anti-corruption and tax administration among others.
This study was conducted through reviewing relevant academic literature written on the subject. Secondary data available in official websites of the respective countries and some international organizations were used in the financial and economic analysis. And data and facts contained in few news articles were used to analyze present status of certain elements which were necessary in arriving at conclusions. Conclusions were reached using theoretical facts and written evidence identified through the study of relevant literature written around the concepts.
The findings of this study identify key elements in achieving equal distribution in a society. Comparison of economic policies, taxation system, social welfare system, level of corruption and tax evasion levels in Sri Lanka and Finland provided a great insight into the significance of the above elements and the level of impact equality makes on businesses and enterprises in an economy.