Families by race origin 2019 gini index countries with the greatest income distribution equality 2017 u s. The gini coefficient is equal to the area below the line of perfect equality 0 5 by definition minus the area below the lorenz curve divided by the area below the line of perfect equality.
The gini coefficient is a number between 0 and 1 where 0 corresponds with perfect equality where everyone has the same income and 1 corresponds with perfect inequality where one person has.
Income equality index. It was developed by italian statistician corrado gini 1884 1965 and is named after him. The gini index was developed by italian statistician corrado gini in the early 1900s to help quantify and more easily compare income inequality levels across countries of the world. Gender wage gap for the 20 most.
Based on world bank data ranging from 1992 to 2018. Gini index for income distribution equality for u s. Income inequality among individuals is measured here by five indicators.
This is a list of countries or dependencies by income inequality metrics including gini coefficients. It looks at the distribution of a nation s income or wealth where 0 represents complete equality and 100 total. For example while both bangladesh per capita income of 1 693 and the netherlands per capita income of 42 183 had an income gini coefficient of 0 31 in 2010 the quality of life economic opportunity and absolute income in these countries are very different i.
The gini index is the most widely used measure of inequality see map above. The gini coefficient is based on the comparison of cumulative proportions of the population against cumulative proportions of income they receive and it ranges between 0 in the case of perfect equality and 1 in the case of perfect inequality. Gini coefficients are simple and this simplicity can lead to oversights and can confuse the comparison of different populations.
The gini coefficient or gini index is a measure of the income distribution of a population.