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About Preston Curve:
- It is a concept in economics that examines the relationship between life expectancy and per capita income.
- It was first proposed by American sociologist Samuel H. Preston in his 1975 paper “The changing relation between mortality and level of economic development”.
Other Important Curve:
- Kuznets Curve: According to this hypothesis, as an economy develops, market forces first increase and then decrease economic inequality.
- Lorenz Curve: Is a graphical representation of the distribution of income or of wealth.
- Gini Coefficient: Is a statistical measure of inequality that describes how equal or unequal income or wealth is distributed among the population of a country.
- Laffer Curve: It states that if tax rates are increased above a certain level, then tax revenues can actually fall because higher tax rates discourage people from working.
- Phillips Curve: It states that inflation and unemployment have a stable and inverse relationship.
- Engel Curve: It describes how the spending on a certain good varies with household income.
Why in the News?
- Recently, the impact of economic well-being affecting lifespan has been in focus.
