Gini coefficient : Gini coefficent

The Gini coefficient was developed by the Italian statistician Corrado Gini. It is a measure of the income inequality in a society.

The Gini coefficient is a number between 0 and 100, where 0 means perfect equality (everyone has the same income) and 100 means perfect inequality (one person has all the income, everyone else earns nothing).

While the Gini coefficient is normally used to measure income inequality, it can be used to measure inequality of assets as well.

The Gini coefficient is calculated using the Lorenz curve: the Gini coefficient is the area between the line of perfect equality and the Lorenz curve, as a percentage of the area between the line of perfect equality and the line of perfect inequality.