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The Gini coefficient, often known as the Gini index, is a statistic that measures the degree to which people in a nation or community have unequal incomes.
Carrodo Gini, a statistician, was the one who invented it. A Gini index value of 0 indicates complete equality, whereas a value of 1 indicates the greatest possible inequality.
The Gini coefficient for the globe was calculated at 0.43 in the year 1820, and it continued to rise steadily until it reached 0.80 in the year 1988. Beginning in the first decade of the 20th century, it began a trend reversal, with the value gradually decreasing to 0.65 as of 2013.