- Poverty in less developed countries is due to income inequality.
- According to the World Population review, it is the measure of the distribution of wealth between the richest of the richest and the poorest of the poor.
- Income inequality is an important dimension of social classification.
- Inequality in income is a big threat to the social and economic development of the nation. It can also act as a barrier to poverty reduction and growth.
- Income inequality affects the pace of growth that reduces poverty. Growth cannot be a contributing factor in lowering poverty in countries with high levels of income inequality. The concentration of wealth in the hands of a few can leave the rest in poverty and deprivation.
- The countries with the highest wealth inequality in the World are Suriname, Zambia, Central African Republic, Mozambique, Eswatini, etc.
- Gini Coefficient is a statistical tool to measure the income inequality in the population. It ranges from 0 to 1.
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