Income inequality metrics

income inequalitywage inequalitydispersion of incomesinequalityGalt scoreincomeincome differencesincome distributionincome inequality metricindependence axiom
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.
There are many methods for measuring economic inequality, with the Gini coefficient being a widely used one.

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 indexGini ratioGini
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.

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.

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.

Hoover index

Robin Hood indexSchutz 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.

List of countries by income equality

Income Equalityincome inequalityList of countries by income inequality
This is a list of countries or dependencies by income inequality metrics, including Gini coefficients.

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.

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.

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.

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).

John Galt

Galta charactergulching
It is named is named for the fictional character John Galt in Ayn Rand's novel Atlas Shrugged (1957).
A company's Galt score is a measure of Income inequality.

Median

averagesample medianmedian-unbiased estimator
The Galt score is a simple ratio of a company’s CEO pay to the pay of that company's Median worker.

Income inequality in the United States

income inequalityincomeinequality
Different sources prefer gini coefficients or ratio of percentiles, etc. Census Bureau studies on household and individual income show lower levels than some other sources, but do not break out the highest-income households (99%+) where most change has occurred.

Income

incomesearningsearning 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)

metricdistance functionmetrics
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

Systems of measurementsystem of unitsHistorical weights and measures
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

SmithA SmithAdam Smith’s
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 MalthusMalthusRobert Malthus
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

factor of productionresourcesinputs
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.