What is the importance of the Lorenz curve?

The Lorenz curve is important because it helps in understanding economic inequality. When the lorenz curve keeps moving away from the baseline it indicates that the level of unequal distribution keeps increasing. You can read about the Lorenz Curve: Definition, Explanation and Relevant Questions in the given link.

The Lorenz curve was developed by Max O. Lorenz in 1905

Further readings:

  1. Gini Coefficient – Definition, Calculation and India’s Rankings
  2. Income Inequality In India: Background, Factors and Conclusion

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