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>Firstly, Gini coefficient is based on income, not wealth. Huh? Gini coefficient can be based on wealth just as well as on income. For example: https://en.wiki
by zone411 6y ago
>Firstly, Gini coefficient is based on income, not wealth.
Huh? Gini coefficient can be based on wealth just as well as on income. For example: https://en.wikipedia.org/wiki/List_of_countries_by_wealth_equality https://en.wikipedia.org/wiki/List_of_countries_by_wealth_eq.... This essay doesn't specify which one PG is talking about.
- BlargMcLarg 6y agoThink the implicit meaning here is that Gini coefficient is often used only as an indicator of income inequality, not wealth inequality, despite it being usable for both. Usually one has to specify "wealth Gini coefficient", as most default to income otherwise.
- zone411 6y agoHowever, this essay is specifically about wealth so at most I'd criticize this use as somewhat ambiguous instead of assuming that PG meant income Gini and therefore confuses income with wealth.
- whimsicalism 6y agoHaving read a fair bit of discussion of inequality, I think that in any popular discussion if you see the phrase "gini coefficient" unqualified, you should presume it to be discussing income, even if the rest of the discussion was about wealth. It's a very pervasive error.