Income Inequality Definition Wikipedia

Economic inequality difference in economic well being between population groups.

Income inequality definition wikipedia. The united states wealth inequality which takes into consideration income property and investments is even more pronounced than its income inequality. Income inequality in the united states is the extent to which income is distributed in an uneven manner among the american population. 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. Income inequality is how unevenly income is distributed throughout a population.

A 2011 study titled divided we stand. It has fluctuated considerably since measurements began around 1915 moving in an arc between peaks in the 1920s and 2000s with a 30 year period of relatively lower inequality between 1950 and 1980. Usually males are paid higher than females which has caused protest. Many economists argue that certain amounts of inequality are necessary and desirable but that excessive inequality leads to efficiency problems and.

In 1820 the ratio between the income of the top and bottom 20 percent of the world s population was three to one. Income inequality in economics significant disparity in the distribution of income between individuals groups populations social classes or countries income inequality is a major dimension of social stratification and social class it affects and is affected by many other forms of inequality such as inequalities of wealth political power and social status. By 1991 it was eighty six to one. Attention inequality unequal distribution of attention across users groups of people issues in etc.

Why inequality keeps rising by the organisation for economic co operation and development oecd sought to explain the causes for this rising inequality by investigating economic inequality in oecd. Sometimes this is called a pay gap. Income inequality is the extent to which income is distributed in an uneven manner. It can be measured by various methods including the lorenz curve and the gini coefficient.

International inequality economic differences between countries.