Gini coefficient often referred to as the Gini index or Gini ratio is a measure of the distribution of wealth across a population. It represents the wealth or income inequality within a country or over a certain population.
It was developed by Italian statistician Corrado Gini in 1912. The coefficient is measured in the value between 0 to 1 or 0% to 100%, a coefficient of zero implies that there is equal distribution of wealth and income within a country or population whereas a coefficient of one indicates that there is an unequal distribution of wealth or income.
However, a Gini coefficient is not an absolute measure of wealth or income. It only measures the dispersion of income or wealth.
Read more: https://worldref.co/w-insights/has-global-income-inequality-increased-in-the-last-100-years/
