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It was developed by italian statistician and sociologist corrado gini The gini coefficient summarizes how much the distribution of income (or other measures, like consumption or wealth) among individuals or households deviates from a perfectly equal distribution. The gini coefficient measures the inequality among the values of a frequency distribution, such as income levels
A gini coefficient of 0 reflects perfect equality, where all income or wealth values are the same. The index is often used by economists and policymakers to assess inequality within a country or region. The gini coefficient, or gini index, is the most commonly used measure of inequality
World bank, poverty and inequality platform
Data are based on primary household survey data obtained from government statistical agencies and world bank country departments The gini coefficient, or gini index, is derived from the lorenz curve, and like the lorenz curve, it measures the degree of economic equality across a given population and simplifies this reality into a single number. The gini index, developed by corrado gini in 1912, measures income inequality on a scale from 0 (perfect equality) to 1 (perfect inequality), with south africa having the highest recorded gini. A gini of 0 indicates perfect equality, while 1 indicates that all income goes to one person and none to everyone else
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