Gini Coefficient | Vibepedia

The Gini coefficient is a statistical measure used to assess the level of income and wealth inequality within a population. It ranges from 0, indicating perfect equality, to 1, indicating maximal inequality. The coefficient is widely used by economists, policymakers, and social scientists to understand and compare the distribution of income and wealth across different countries and social groups. With a scale of 0 to 1, or 0% to 100%, the Gini coefficient provides a quantitative measure of inequality, allowing for the evaluation of the effectiveness of policies aimed at reducing economic disparities.