Income Inequality Of Countries
Income inequality among individuals is measured here by five indicators.
Income inequality of countries. Here s a guide to different ranking systems from wealth distribution to the world happiness report and which countries rate best and worst under each. Today 71 percent of the world s population live in countries where inequality has grown. This is a list of countries ranked by income inequality among individuals or households. The income of the household is attributed to each of its members with an adjustment to reflect differences in needs for households of different sizes.
And some well developed countries are perhaps surprisingly far from the 0 mark. Income from black market economic activity is not included. Higher gini coefficients signify greater inequality in wealth distribution with 0 being complete equality whereas a value near 1 can arise in a situation where everybody has zero wealth. This is much longer than other estimates of income inequality allow as is the case with estimates that rely on income survey data.
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. The higher the number the greater the degree of income inequality. This is a list of countries or dependencies by income inequality metrics including gini coefficients the gini coefficient is a number between 0 and 1 where 0 corresponds with perfect equality where everyone has the same income and 1 corresponds with perfect inequality where one person has all the income and everyone else has no income. The gini coefficient condenses the entire income distribution for a country into a single number between 0 and 1.
This is a list of countries by distribution of wealth including gini coefficients wealth distribution can vary greatly from income distribution in a country see list of countries by income equality. Historical top income inequality estimates are reconstructed from income tax records and for many countries these estimates give us insights into the evolution of inequality over more than 100 years. Inequality isn t all about income. The data refer to 2010 2017.
Income inequality is defined by gini index between 0 and 1 where 0 corresponds with perfect equality and 1 corresponds with absolute inequality. Every country will fall between these two extremes. The united states wealth inequality which takes into consideration income property and investments is even more pronounced than its income inequality. Income inequality is quantified via the gini coefficient where 0 is a state of absolute equality when everyone holds the same amount of wealth and 1 is absolute inequality when 1 person holds all the wealth.