How the U.S. rates in income inequality vs. the world
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In a previous post, we looked at a measure of household income inequity by state. In this post, we take a world view, comparing how inequitable incomes are in households of many nations.
The data is in the form of the Gini Coefficient,
a way that economists measure and compare household income equality. In this scale, 0 means every household has exactly the same income; 1 means one household has all the income, while all the others bring home nothing. The higher the Gini, the more unequal household incomes are.
What's surprising to me is where the U.S. ranks in household inequity, well on the inequitable side of the median. Perhaps we haven't gone down the road of socialism as far as many people fear.