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It was developed by italian statistician and sociologist corrado gini The gini index, then, would be 48%. The gini coefficient measures the inequality among the values of a frequency distribution, such as income levels
A gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same. For example, the gini coefficient of the united states in 2023 was 0.48 The gini coefficient, also called the gini index or gini ratio, is the most commonly used measure of income distribution—simply put, the higher the gini coefficient, the greater the gap between the incomes of a country’s richest and poorest people.
The gini coefficient, or gini index, is the most commonly used measure of inequality
World bank, poverty and inequality platform Data are based on primary household survey data obtained from government statistical agencies and world bank country departments The gini coefficient is a standard measure of inequality that summarises how unevenly income or wealth is distributed within a country It ranges from 0 to 1, where 0 represents perfect equality — everyone has exactly the same income — and 1 represents perfect inequality, where a single person holds…
The gini index, developed by corrado gini in 1912, measures income inequality on a scale from 0 (perfect equality) to 1 (perfect inequality), with south africa having the highest recorded gini. The gini index is a summary measure of income inequality The gini coefficient incorporates the detailed shares data into a single statistic, which summarizes the dispersion of income across the entire income distribution. A gini of 0 indicates perfect equality, while 1 indicates that all income goes to one person and none to everyone else
The index is often used by economists and policymakers to assess inequality within a country or region.
The gini coefficient summarizes how much the distribution of income (or other measures, like consumption or wealth) among individuals or households deviates from a perfectly equal distribution. So, what is the gini index, then The gini index is simply the gini coefficient expressed as a percentage between 0% to 100%
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