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The Gini Coefficient Explained in One Minute

The topic of income inequality is still very much so in the spotlight pretty much everywhere in the world and thus, there's no time like the present to understand the Gini coefficient properly. Right from the beginning, please note that the Gini coefficient pertains to strictly income inequality and not wealth inequality. In other words, to what you earn and not what you own. While terms such as this one tend to make people run for the hills, wrapping your head around the Gini coefficient is fortunately not all that difficult and this video will help you do just that from A to Z. You will find out what it is, how it is calculated and... well, why you should care. This is definitely one of those terms that we can consider widely used but poorly understood, and it would be a shame to become a perpetrator of Gini coefficient myths and/or misunderstandings as opposed to getting it right in terms of understanding how everything works right from the beginning. I will end by stating that while many One Minute Economics videos can be tackled in just one sitting, this is one of those exceptions where it might be necessary to watch it several times to ensure you haven't missed anything. But it will be worth it, I promise :)