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Tuesday, March 12, 2013
Occupy Wall Street had it right
The Gini coefficient known as the Gini Index or Gini Ratio measures income and wealth inequality within a country. A Gini coefficient of 1 expresses maximal inequality (for example only one person has all the income and wealth.)
A Gini coefficient of 0 expresses perfect equality (for example everyone has exactly equal income and wealth.) Given this measure the US is more unequal than Venezuela, Iran and Iraq in that order. Denmark, Sweden and Norway in that order are the most equal.
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