Tag: GINI Index
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Economic Status (Part 2)
SOCIAL INDICATORS 2007 Economic Mobility Most societies, through the ages, have had flat income distributions. The overwhelming majority of people lived near subsistence levels, with a tiny minority living in splendor. There was equal distribution but little opportunity for an individual to improve economic status. Since the Industrial Revolution, we have seen a great expansion…
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Economic Status (Part 1)
SOCIAL INDICATORS 2007 Economic status is usually cast in terms of income and wealth. When we talk about economic justice, we typically have one of two things in mind. First, we are asking if people have sufficient resources. Second, we are asking how income and wealth are distributed throughout society. Two critical factors in these…
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Economic Status (Part 2)
SOCIAL INDICATORS 2006 Economic Status (Part 2) The Gini Index is a measure of income inequality. The index ranks income distributions from 0 to 1, where 0 equals equality, and 1 equals inequality. Gini indexes had been calculated for families from 1947 to the present in the US. However, household income is now the preferred…
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Social Indicators: Economic Status (Part 2 of 2)
[Continued from Social Indicators: Economic Status (Part 1 of 2)] The Gini Index is a measure of income inequality. The index ranks income distributions from 0 to 1, where 0 equals equality, and 1 equals inequality. Gini indexes had been calculated for families from 1947 to the present in the US. However, household income is…