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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Author(s)
Reza G. Hamzaee, Lexy Hicks, Micah Burrow
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DOI:10.17265/2328-2185/2017.05.002
Affiliation(s)
Missouri Western State University, Missouri, USA
ABSTRACT
The
shrinking size of middle class in the U.S. has motivated this research work.
The focus of this research has been on sustainability of society through
middle-class promoting public policy. We have estimated three various regression
equations to test the significance of several socio-economic variables on what
would define some desirable indices of healthier nations such as mean years of
schooling, human development, and quality of life. Quality of life in certain
countries such as Norway, Denmark, etc., is highlighted as best, compared to
many other nations of the world. We have introduced a better measure of quality
of life and estimated the empirical impacts of some explanatory variables, such
as healthcare, property price to income ratio, and pollution on that index of
life quality. An implication of this study for public policy would be revealed
in clear needs for reducing pollution, more income creating innovative
objectives, while healthcare accessibility and the corresponding costs to
citizens must be brought down.
KEYWORDS
socio-economic policy, middle class, income inequality, human development
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