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The Italian statistician Corrado Gini developed the Gini coefficient and published it in his 1912 paper Variabilità e mutabilità (English: variability and mutability). [16] [17] Building on the work of American economist Max Lorenz, Gini proposed using the difference between the hypothetical straight line depicting perfect equality and the actual line depicting people's incomes as a measure ...
The range of the Gini index is between 0 and 1 (0% and 100%), where 0 indicates perfect equality and 1 (100%) indicates maximum inequality. The Gini index is the most frequently used inequality index. The reason for its popularity is that it is easy to understand how to compute the Gini index as a ratio of two areas in Lorenz curve diagrams ...
This is a list of countries and territories by income inequality metrics, as calculated by the World Bank, UNU-WIDER, OCDE, and World Inequality Database, based on different indicators, like the Gini coefficient and specific income ratios.
This Gini Index map shows regional and county level variation in pre-tax income inequality Gini index. The 2010 Gini index value range from 20.7 for Loving County to 64.5 to East Carroll Parish . [196] The US household income Gini of 46.8 in 2009 [197] varied significantly between states: after-tax income inequality in 2009 was greatest in ...
A complete handout about the Lorenz curve including various applications, including an Excel spreadsheet graphing Lorenz curves and calculating Gini coefficients as well as coefficients of variation. LORENZ 3.0 is a Mathematica notebook which draw sample Lorenz curves and calculates Gini coefficients and Lorenz asymmetry coefficients from data ...
The Gini, like the Theil (below), is an impartial measure of inequality over the entire population. That can be of interest and use, but the Robin Hood differs, as a not-impartial examination of the total amount by which members of the population get less than their equal-share.
A score of 1 would represent the case in which one person would have all the income and others would have none. Therefore, a lower Gini score is roughly associated with a more equal distribution of income and vice versa. In 2018 U.S. income inequality as measured by the Gini index was close to the highest recorded values ever. [15] [16]
The Gini index is also widely used within the World Bank. [11] It is an accurate and reliable index for measuring income distribution on a country by country level. The Gini index measurements go from 0 to 1 for 1 being perfect inequality and 0 being perfect equality. The world Gini index is measured at 0.52 as of 2016. [12]