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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 United States has the highest level of income inequality in the Western world, according to a 2018 study by the United Nations Special Rapporteur on extreme poverty and human rights. The United States has forty million people living in poverty, and more than half of these people live in "extreme" or "absolute" poverty.
The closer the Gini Coefficient is to one, the closer its income distribution is to absolute inequality. In 2007, the United Nations approximated the United States' Gini Coefficient at 41% while the CIA Factbook placed the coefficient at 45%. The United States' Gini Coefficient was below 40% in 1964 and slightly declined through the 1970s.
The majority of European countries have a Gini coefficient between 0.3 and 0.4. These countries, such as Switzerland, Italy, France, and United Kingdom, are situated in the middle of the Great Gatsby Curve. [18] Surprisingly, the United States of America, which is perceived as the country of equal opportunities, is located in the middle of the ...
A score of "0" on the Gini coefficient represents complete equality, i.e. every person has the same income. 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.
The Gini coefficient is a number between 0 and 1 or 100, where 0 represents perfect equality (everyone has the same income). Meanwhile, an index of 1 or 100 implies perfect inequality (one person has all the income, and everyone else has no income).
For example, in the chart at right, US income share of top earners was approximately constant from the mid-1950s to the mid-1980s, then increased from the mid-1980s through 2000s; this increased inequality was reflected in the Gini coefficient. For example, in 2007 the top decile (10%) of US earners accounted for 49.7% of total wages (times ...
Worldwide, in 2005 the Gini index rose to 0.70 points from 0.65 points. [33] More specifically, in the United States, from 1970 to 2018, the Gini coefficient associated with net incomes rose from 0.65 to 0.75, while in France this coefficient fell from 0.37 to 0.29. [34]