The main metric economists use to measure inequality is deeply flawed
In 2015, Greece, Thailand, Israel, and the UK were equally unequal. That is, all four countries had the same Gini coefficient, a common measure of income inequality.
The number suggests that the spread of incomes in the four nations was the same. However, a closer look at the poorest and wealthiest people in those societies shows a very different picture of inequality. The ratio between income held by the richest 10% and the poorest 10% ranged significantly from 13.8 in Greece to 4.2 in the UK.……
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