Economic graph of the day #3. How to measure inequality.
Hey everyone!
Part of my studies consider wealth inequality in Russia and other countries. The first question when you study something is usually how to describe and quantify it. When comes to inequality it is not the easiest tasks. Obviously we have dramatically different economies in Western and Eastern Europe, North America and Central Africa. Should we include 1 or 2 (or 5) wealthiest families who owns literally half the economy in some places? Should we count individuals or families and what to do with large corporation wealth? What about grey or even black economy?
Hopefully we have a rule of thumb which is called Gini index. Looking at this number (from 0 to 100) we could see a gap between "haves" and "have-nots" - the greater the index the greater the gap.
Economic picture of the day is Gini Index in different countries.
Do you find your own country? Tell me, how large is wealth inequality there?
See you later with economic graph of the day!
In Russia, there is a very large difference in the wages of officials and ordinary people. If in Moscow and St. Petersburg, the salary still allows you to eat normally and more or less dress, buy some gadgets. It's worth traveling around Russia and you'll see surviving people.
It's not only officials (I guess you mean government officials).
All the top managers of large companies live and work in Moscow. Also all highly paid analytics and IT staff.
It's not so great but if you seek a career in almost any field you must relocate to Moscow. Or in a large regional center at least.
I never thought about it. Interesting statistics.
I think this graph is irresolvable. (For example I see the false about Belarus and Ukraine)
But I want to show some interesting graph of Golos economical situation (stats)
Уровень благосостояния авторов Голоса
This is an interesting picture, thank you! Considered the whole map!
If you look at the graph, the USA is much worse than in Russia...
It is. Concentration of wealth on top is enormous but in USA the sheer amunt of wealth is greater.