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The Gini coefficient of the global income in 2005 has been estimated to be between 0.61 and 0.68 by various sources. [11] [12] There are multiple issues in interpreting a Gini coefficient, as the same value may result from many different distribution curves. To mitigate this, the demographic structure should be taken into account.
The Gini coefficient is a number between 0 and 1 or 100, where 0 represents perfect equality (everyone has the same income), while an index of 1 or 100 implies perfect inequality (one person has all the income and everyone else has no income).
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 ...
The states of Utah, Alaska and Wyoming have a market income Gini coefficient that is 10% lower than the average, while Washington D.C. and Puerto Rico are 10% higher. After-tax, the Federal Reserve estimated that 34 states in the US have a Gini index between 30 and 35, with Maine the lowest. [199]
Countries' income inequality according to their most recent reported Gini index values as of 2018. [1] Income inequality is measured by Gini coefficient (expressed in percent %) that is a number between 0 and 1. Here 0 expresses perfect equality, meaning that everyone has the same income, whereas 1 represents perfect inequality, meaning that ...
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]
A more frequently encountered inequality measure is the Gini coefficient which is based on the summation, over all income-ordered population-percentiles, of the cumulative income up to each percentile. That sum is divided by the maximum value that it could have (its value with complete equality), to express it as a percentage of its maximum ...
The Wealth Gini coefficients from 2008 are based on a working paper published by the National Bureau of Economic Research. [5] The Wealth Gini numbers for 2018, 2019, and 2021 come from the Global Wealth Databook by Credit Suisse. [6] [7] [8] * indicates "Wealth inequality in COUNTRY or TERRITORY" or "Income inequality in COUNTRY or TERRITORY ...