Understanding the Gini Coefficient

[blacklist]

Perfect perfect perfect, best visual, simplicity, and every other thing. This institution deserves an A++.

[jackiesharp]

this did better than most resources put out by the American government. I just needed a definition for my essay but this really made it super clear, thank you Singapore for helping my essay

[dnmz]

I know realize why Singapore is known for their education. Great video!

[nash-miso]

This video was really well put together and easy to understand. The animations were very helpful. Thank you very much.

[hereLiesThisTroper]

I got introduced to the Gini Coefficient from Prof Jordan Peterson where he discussed the correlation between crime and poverty.
He says that poverty DOES NOT cause crime but RELATIVE POVERTY.

Relative Poverty can be measured using the Gini Coefficient. The more unequal a society, the higher chance of crime occurring.
Thus, as the Gini Coefficient approaches 1, the higher the possibility of crime occurring.

[TS-ttpn]

Very good video and animation. Explain gini coefficient inn a clear and straight forward way.

[sri]

excellently demystified the concept of GINI Co efficient

[caliguy]

Gini Coefficient in 2020 in Singapore was about 0.35. USA same year was 0.45. I'm moving.

[victory]

Very clear information. Thank you so much❤

[Cleisthenes]

I'm a Gini in a bottle, you gotta count me the right way

[FarizDarari]

Public tax money done right, thank you Singapore Dept. of Stats!

[theultimatereductionist]

Here is one way of discretizing the Lorenz curve and one way of defining a Gini coefficient for discrete number, N, of players.
Order all players 1<= i <= N in order of fraction of total wealth. Define x(i) = fraction of total wealth of the world that player i has. So 0<= x(i) <=1. For each positive integer, M, 1<= M <=N, define S(M)= sum of x(i) from i=1 through i=M. Then S(N)=1.

Plot S(M) vs M/N over 1<=M<=N. That way both axes go from 0 to 1. Perfect equality would be x(i)=1/N for all i, of course. Perfect inequality would be x(i)=0 for i from 1 through N-1 and x(N)=1. Although, one could just as easily define x(1)=0 and x(i) = 1/(N-1) for i=2 through N as perfect inequality: i.e. one unfortunate person gets nothing, while everybody else gets everything, but amongst them all wealth is equally shared.

Define A(M)=S(M)/(M/N) = N*S(M)/M, the average of cumulative fractional wealth times N.
This is just the ratio of the height of (M/N, S(M)), which is S(M), over the y-coordinate of the y=x curve, which would be M/N.
Therefore always 0<=A(M)<=1.

Here is where one can define a variant on the Gini coefficient in many different ways.
e.g. the minimum of A(M) for any M. 0 being total inequality, 1 being perfect equality
The variance of A(M) over 1<=M<=N being 0 would be perfect equality, further from 0 would be more unequal.

[DrN]

Wealth is waaaay more important, yet income garners all the attention somehow..

[pierospec]

Why I’m paying for my professor while this is free

[JiTiAr]

Just wondering, how are the gini coefficients in socialist countries? Soviet Union for example.

[LatestMusicsify]

Hi, very nicely explained but what do you mean by every household has same income, it should be a horizontal line instead of 45 degree.

[franciscody]

Ask the Singapore Dept. of Statistics why its measure of GINI coefficient is not included in the World Bank compilation of the statistic.

[stuartB]

By household, do you mean you exclude the homeless working class?

[kjk]

Makes pretty clear those nation states that need to democratize.

[suewillis]

Please take the music off. I can't bear to listen, but I need to hear your voice. The music is not at all useful. It's a nicely made video, but I am not sure I can use it bcs of the music.