Gini Coefficient

rickshaw by banksy

The Gini coefficient is a measure of statistical dispersion developed by the Italian statistician Corrado Gini in 1912. It has found application in the study of inequalities in disciplines as diverse as economics, health science, ecology, chemistry and engineering. It is commonly used as a measure of inequality of income or wealth. Worldwide, on a scale of 0 (total equality) to 1 (total inequality) Gini coefficients for income range from approximately 0.23 (Sweden) to 0.70 (Namibia) although not every country has been assessed.

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