Inequality Measurement

Inequality measurement involves using tools and statistics to assess how income, wealth, or resources are distributed within a society. It helps identify disparities between different groups or individuals, highlighting whether a society is balanced or marked by significant gaps. Common measures include the Gini coefficient, which ranges from 0 (perfect equality) to 1 (maximum inequality), and other indices that quantify the extent of economic divergence. These tools aid policymakers in understanding social and economic dynamics, aiming to promote fairness and target efforts to reduce disparities and improve overall well-being.