Income Inequality Level Meaning

Income inequality is defined as a measure that highlights the gap between different individuals or households disposable income in a particular year and in a given country.

Income inequality level meaning. Income inequality explained. Broadly speaking income inequality refers to the fact that different people earn different amounts of money. Income level definition in english dictionary income level meaning synonyms see also income bond income group income support income tax. The wider those earnings are dispersed the more unequal.

The level of inequality of income and wealth can be measured in several ways. What is income inequality. The united states wealth inequality which takes into consideration income property and investments is even more pronounced than its income inequality. In terms of global income inequality the poorest two thirds of the world s people are estimated to receive less than 13 percent of world income while the richest 1 percent take nearly 15 percent source.

The united states currently holds 41 6 percent of the world s personal wealth making it the richest nation in the world but has a gini coefficient 42 that is the worst of any oecd. Different measures such as the gini coefficient can be used to analyze the level of income inequality in a population. Income inequality in economics significant disparity in the distribution of income between individuals groups populations social classes or countries income inequality is a major dimension of social stratification and social class it affects and is affected by many other forms of inequality such as inequalities of wealth political power and social status. Income divide has not always been as vast as it is today.

Undp hdi report for 2014.