Gini coefficient

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Gini coefficient2016-12-04T20:45:50+00:00

Gini coefficient


Definition A metric which is widely used by economists to quantify income inequality between the super-rich and abjectly poor, where 0 is a hypothetical point at which everyone has an equal income; 1 is an equally hypothetical point at which a single person gets all the income in a population and the rest get nothing.

To place this in perspective, Norway, Sweden and some countries of the former Eastern Bloc have Gini coefficients of ±0.25, the US and China have Ginis of ±0.45 and South Africa has a Gini of ± 0.7. 

Reference Science 2014; 344:819-821

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