About Inequality
Would you rather make $200000 per year and have your neighbors make $300000, or would you rather make $100000 and have your neighbors make $80000?
Surprisingly, most people would choose the latter. So how would you then quantify inequality? In this article , the author debunks a common myth that the GINI index is useful in measuring inequality - apparently the use of this index tells us that India is more "equal" than the US.
A casual read of how this index works can easily tell us that the underlying income distributions can be markedly different and yet yield similar GINI values.
What can be a more equal measure? I'll mull over this once my deadline passes..
Surprisingly, most people would choose the latter. So how would you then quantify inequality? In this article , the author debunks a common myth that the GINI index is useful in measuring inequality - apparently the use of this index tells us that India is more "equal" than the US.
A casual read of how this index works can easily tell us that the underlying income distributions can be markedly different and yet yield similar GINI values.
What can be a more equal measure? I'll mull over this once my deadline passes..
