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Reply #18: One measure makes it VERY clear: It's called the Gini Ratio [View All]

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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-26-06 12:10 PM
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18. One measure makes it VERY clear: It's called the Gini Ratio
I've posted this repeatedly but it seems much of the DU community, like 'average' Americans, have such a "math phobia" that the impact of this graph is lost upon them (as they run in terror screaming 'No! Not a graph! I can't read those!'). Maybe I'm wrong. I hope so.

The Gini Ratio is a valid measure of how equitably income is distributed among familes. A Gini Ratio of zero ('0.0') would indicate that every family receives exactly the same income, while a Gini Ratio of one ('1.0') would indicate that a single family receives all of the income and all other families receive none. Clearly, neither extreme is ever seen. Nonetheless, a colonial plantation economic system is clearly indicated by a high Gini Ratio and an economy focused on economic equity is clearly indicated by a low Gini Ratio. It's also important to recognize that the income of a family/household may be the result of several members of the family working, possibly at more than one job or the result of purely 'investment' (ownership) income (or retirement income) where nobody actually works for a living.

Anyone who can look at the following chart and not appreciate the appalling deterioration of the American economy in the last 30 years is either math-challenged or a corrupt reichbot.

Both, hopefully, are curable.




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