Here are some ways to reduce the overhang.

Clay Shirky How cognitive surplus will change the world

Who gets to pocket this team surplus ?

Indeed, China has a rare problem excessive savings.

As a matter of simple arithmetic, we know that the rest of the world is running correspondingly smaller surpluses.

It increases income, improves welfare, etc.

That's seven percent of revenues.

(a) Estimates of gross national income

I can testify from personal experience that investors would flock to Greece once the debt overhang was removed.

Imagine buying a house valued at three years' income and paying 45 of your income just to make mortgage payments.

One particular worry is that euro zone money supply is well above the ECB s benchmark level, indicating an excess supply of liquidity.

the income distribution of the United States, 1970.

Most don t.

Household disposable income is about 60 of national income in China, and the household savings rate is close to 30 of disposable income.

As a result, there is an overhang of illiquid financial institutions, whose holdings could be unloaded if they run into difficulties.

But Spain had a surplus and a low debt ratio before the crisis, and it, too, is in depression.

When most households own no productive assets, they cannot share any of the asset appreciation or property income.

Exponential growth at a fixed percentage rate can look like a hockey stick.

And here we have high income countries in the OECD.

This is the income distribution of China, 1970.

For most citizens, wages are the only source of income.

The citizen reporter will get revenue share on any that sales.

Right now she does not have an income.

The building would not become profitable until 1950.

High national incomes are not enough to ensure children s well being.

Jobs have gone, incomes have been lost and opportunities foregone.

Why would anyone lend (buy a bond) for less than nothing?

Finally, Africa s income distribution must become more equitable.

Where are the different countries? I can show you Africa.

It's going to depend if they're wealthy or impoverished.

It is from advertising that a newspaper earns most of its profits.

During the crisis, taxpayers were on the hook for almost a quarter of national income.

The key element in any such approach is to separate work from income.

But as Louis Kuijs of the World Bank has pointed out, what sets China apart from many other developing countries is not that households save uniquely high levels of their income, but that enterprises do.

Africa as a continent has the world s second highest measure of income concentration.

Wealthier households contribute up to 5 of their disposable income.

Chinese households do save a lot, about one quarter of their income.

In some families, women are now the main earners.

It has been explained to me as soon as there is a war their revenue is doubled.

The poverty line in the UK is commonly defined as being 60 of the median household income.

Similarly, GDP per capita is not a measure of personal income.

Although non tax revenue may contribute significantly to some countries total GDP, the average tax GDP ratios in low income and lower middle income countries are roughly 15 and 19 , respectively significantly lower than the OECD average of more than 35 . To finance development projects, poor and lower middle income countries must devise and implement tax strategies to increase domestic revenue.

To finance development projects, poor and lower middle income countries must devise and implement tax strategies to increase domestic revenue.

Nevertheless, artificial wage increases enforced by government policies could slow down the process of labor reallocation and make some surplus labor permanent.

Indeed, from 2000 to 2004, the increase in net government expenditures accounted for 150 of income growth, as other sources of income shriveled up.