I Dream Of Gini
The Gini coefficient was the brilliant work of Corrado Gini, an Italian statistician and sociologist. Created in 1912, the Gini coefficient measures the income inequality in a particular country.
A Gini coefficient of zero would mean perfect income equality – everyone makes the same. A score of 1 would mean a perverse level of inequality where all of the income is attributed to one person – a king indeed.
When Gini Is Good For All
Since the 1800s, inequality has been growing steadily, and the Gini coefficient has consequently risen. That occurred as capitalism flourished worldwide and transformed countries from agrarian societies to urban and industrial ones.