SOC101Y1 Lecture Notes - Lecture 8: Gini Coefficient, International Inequality, Consumerism
Document Summary
A handy measure of income and wealth inequality the gini index. Many low-income countries are more unequal than higher-income ones. Scandinavia, canada, australia, and western europe are fairly equal. The wealthiest people in the world control most of the world"s wealth. The top 20% of the world"s population control over 80% of the world"s wealth. The world"s wealthiest . 001% control 30% of the world"s wealth. This reflects huge differences in per capita wealth around the world. Over time, world income inequality is declining though still high (gini= 61. 3) This is due to the gradual movement of wealth to the global south, 1800-2015. Measures of global wellbeing (1): gross domestic product (gdp) per capita. We can gauge a country"s well-being from the total income of all residents of a country, divided by its population gdp per capita (usd, 2015: u. s. ----------,836, canada -----,249, world --------,004, mexico -----,009, nigeria -------,640.
