Income inequality metrics

income inequalitywage inequalityinequalitydispersion of incomesincomeincome differencesincome distributionincome inequality metricindependence axiominequality and poverty measurement
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.wikipedia
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Economic inequality

income inequalityinequalitywealth gap
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.
A widely used index is the Gini coefficient, but there are also many other methods.

Poverty

poorlow-incomeindigent
The concept of inequality is distinct from poverty and fairness.
There are several other different income inequality metrics, for example, the Gini coefficient or the Theil Index.

Gini coefficient

Gini indexGiniequality
Among the most common metrics used to measure inequality are the Gini index (also known as Gini coefficient), the Theil index, and the Hoover index.
The Gini coefficient was proposed by Gini as a measure of inequality of income or wealth.

Distribution (economics)

distributionredistributionland distribution
Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital.
Income inequality metrics

Theil index

Among the most common metrics used to measure inequality are the Gini index (also known as Gini coefficient), the Theil index, and the Hoover index.
Dividing T T by \ln N can normalize the equation to range from 0 to 1, but then the independence axiom is violated: and does not qualify as a measure of inequality.

Hoover index

Among the most common metrics used to measure inequality are the Gini index (also known as Gini coefficient), the Theil index, and the Hoover index.
Income inequality metrics

List of countries by income equality

Income Equalityincome inequalityhigh level of inequality
List of countries by income equality
This is a list of countries or dependencies by income inequality metrics, including Gini coefficients.

Pareto principle

80/20 rule80-20 rule80:20 Rule
This is slightly more unequal than the inequality in a system to which the "80:20 Pareto principle" applies.
Using the "A : B" notation (for example, 0.8:0.2) and with A + B = 1, inequality measures like the Gini index (G) and the Hoover index (H) can be computed.

Lorenz curve

incomeLorenz
The reason for its popularity is that it is easy to understand how to compute the Gini index as a ratio of two areas in Lorenz curve diagrams.
Income inequality metrics

Atkinson index

The Theil index can be transformed into an Atkinson index, which has a range between 0 and 1 (0% and 100%), where 0 indicates perfect equality and 1 (100%) indicates maximum inequality.
Income inequality metrics

Household income in the United States

Median household incomeMedian incomehousehold income
Rather than to indicate a single measure, the society under investigation is split into segments, such as into quintiles (or any other percentage of population).
Income inequality metrics

List of countries by distribution of wealth

List of countries by wealth inequality
List of countries by distribution of wealth
Income inequality metrics

Median

averagesample medianmedian-unbiased estimator
The welfare functions serve as alternatives to the median income.
Python script for Median computations and income inequality metrics

Income inequality in the United States

income inequalityincomeinequality
Income inequality in the United States
Various methods are used to determine income inequality and different sources may give different figures for gini coefficients or ratio different ratio of percentiles, etc..

Socioeconomics

socioeconomicsocio-economicsocio-economic development
Socioeconomics
Income inequality metrics

Poverty threshold

poverty linepoverty levelrelative poverty
Poverty line
To overcome this problem, a poverty index or indices can be used instead; see income inequality metrics.

Income

earningsincomesearning power
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general.

Metric (mathematics)

metricmetricsdistance function
While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes.

System of measurement

system of unitssystems of measurementmeasurement system
While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes.

Distributive justice

fairnessdistributiveunfair
The concept of inequality is distinct from poverty and fairness.

Economic policy

economic policieseconomiceconomic issues
Income distribution has always been a central concern of economic theory and economic policy.

Adam Smith

SmithAdam Smith’sNeo-Smithian
Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital.

Thomas Robert Malthus

Thomas MalthusMalthusMalthusian
Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital.

David Ricardo

RicardoRicardianDavid Ricardo,MP
Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital.

Factors of production

resourcesfactor of productionresource
Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital.