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While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty [Note 1] and fairness. Income distribution has always been a central concern of economic theory and ...
The concept of inequality is distinct from that of poverty [5] and fairness. Income inequality metrics (or income distribution metrics) are used by social scientists to measure the distribution of income, and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
Derivation of the Lorenz curve and Gini coefficient for global income in 2011. Data from 2005. Points on the Lorenz curve represent statements such as, "the bottom 20% of all households have 10% of the total income." A perfectly equal income distribution would be one in which every person has the same income.
Taking income distribution of all human beings, worldwide income inequality has been constantly increasing since the early 19th century (and will keep on increasing over the years) . There was a steady increase in the global income inequality Gini score from 1820 to 2002, with a significant increase between 1980 and 2002.
The x axis of the graph shows the percentiles of the global income distribution. The y axis shows the cumulative growth rate percentage of income. [1] The main conclusion that can be drawn from the graph is that the global top 1% experienced around a 60% increase in income, whereas the income of the global middle increased 70 to 80%.
This association remained after adjustment for poverty (P < 0.007), where each percentage increase in the index was associated with' an increase in the total mortality of 21.68 deaths per 100,000. Effects of the index were also found for infant mortality (P = 0.013); coronary heart disease (P = 0.004); malignant neoplasms (P = 0.023); and ...
The Voigt profile (named after Woldemar Voigt) is a probability distribution given by a convolution of a Cauchy-Lorentz distribution and a Gaussian distribution. It is often used in analyzing data from spectroscopy or diffraction.
The Kuznets ratio is a measurement of the ratio of income going to the highest-earning households (usually defined by the upper 20%) to income going to the lowest-earning households, [4] which is commonly measured by either the lowest 20% or lowest 40% of income. Comparing 20% to 20%, a completely even distribution is expressed as 1; 20% to 40% ...