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by Shoue
1312 days ago
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Relative measures are important because it's an indicator of how fairly domestic resources are being allocated. You can be a poor country but have resources fairly allocated among the population, and you can be a rich country and have resources unfairly allocated among the population. It's a good indicator of how well people at the bottom are being taken care of, and the ideal scenario is a rich country with low income inequality, which the Nordic countries are probably the best examples of. You can use measures that are less country-specific like the Gini coefficient and UN R/P to measure domestic inequality between countries: The UK has a Gini coefficient of 35.1, a UN R/P 10% of 13.8 India has a Gini coefficient of 35.7, a UN R/P 10% of 8.6 For reference, Norway has a Gini coefficient of 27.7, and a UN R/P 10% of 6.1 (higher = more inequality) https://en.wikipedia.org/wiki/List_of_countries_by_income_eq... |
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