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Sunday, April 12, 2009
This is for you math majors--proof that NY is the most inequal of states
The Gini index prooves it. What is the Gini index? Wikipedia says this about that.
The Gini coefficient is a measure of statistical dispersion most prominently used as a measure of inequality of income distribution or inequality of wealth distribution. It is defined as a ratio with values between 0 and 1: A low Gini coefficient indicates more equal income or wealth distribution, while a high Gini coefficient indicates more unequal distribution. 0 corresponds to perfect equality (everyone having exactly the same income) and 1 corresponds to perfect inequality (where one person has all the income, while everyone else has zero income). The Gini coefficient requires that no one have a negative net income or wealth. Worldwide, Gini coefficients range from approximately 0.232 in Denmark to 0.707 in Namibia although not every country has been assessed.
The Gini coefficient was developed by the Italian statistician Corrado Gini and published in his 1912 paper "Variability and Mutability" (Italian: Variabilità e mutabilità).
So the higher number attained as measured from 0 to 1 represents the geographic
area having the biggest spread between the richest and the poorest people. NY of all the 50 states wins that dubious honor.
NY comes is at .5. Therefore, conclusively demonstrating that we have greater extremes of wealth and also poverty than any other state in our union.
Is this not justification for the millionaire's tax?
(Material for this post was liberally lifted from The Albany Project blog.)
Just for the fun of it here is the Gini index for the world.