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Hoover Index
The Hoover index, also known as the Robin Hood index or the Schutz index, is a measure of income inequality. It is equal to the percentage of the total population's income that would have to be redistributed to make all the incomes equal. i.e. The Hoover is the total amount (as a percentage of the national-income) by which people have less than their equal income-share. The Hoover Index can be calculated by the following subtraction: The percentage of the people getting less than their equal-share (i.e. less than the national mean income), minus their percentage of the national income. It can be graphically represented as the longest vertical distance between the Lorenz curve (which graphs cumulative income vs cumulative population (income-ordered population-percentile)and the 45 degree line representing perfect equality). It would be informative to express the Hoover in terms of its average cost to individuals who get less than their equal-share: If the Hoover is divided by t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality
There are wide varieties of economic inequality, most notably income inequality measured using the distribution of income (the amount of money people are paid) and wealth inequality measured using the distribution of wealth (the amount of wealth people own). Besides economic inequality between countries or states, there are important types of economic inequality between different groups of people. Important types of economic measurements focus on wealth, income, and consumption. There are many methods for measuring economic inequality, the Gini coefficient being a widely used one. Another type of measure is the Inequality-adjusted Human Development Index, which is a statistic composite index that takes inequality into account. Important concepts of equality include equity, equality of outcome, and equality of opportunity. Whereas globalization has reduced global inequality (between nations), it has increased inequality within nations. Income inequality between nations peak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diversity Index
A diversity index is a quantitative measure that reflects how many different types (such as species) there are in a dataset (a community), and that can simultaneously take into account the phylogenetic relations among the individuals distributed among those types, such as ''richness'', ''divergence'' or ''evenness''. These indices are statistical representations of biodiversity in different aspects ( richness, evenness, and dominance). Effective number of species or Hill numbers When diversity indices are used in ecology, the types of interest are usually species, but they can also be other categories, such as genera, families, functional types, or haplotypes. The entities of interest are usually individual plants or animals, and the measure of abundance can be, for example, number of individuals, biomass or coverage. In demography, the entities of interest can be people, and the types of interest various demographic groups. In information science, the entities can be chara ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Python (programming Language)
Python is a high-level, general-purpose programming language. Its design philosophy emphasizes code readability with the use of significant indentation. Python is dynamically-typed and garbage-collected. It supports multiple programming paradigms, including structured (particularly procedural), object-oriented and functional programming. It is often described as a "batteries included" language due to its comprehensive standard library. Guido van Rossum began working on Python in the late 1980s as a successor to the ABC programming language and first released it in 1991 as Python 0.9.0. Python 2.0 was released in 2000 and introduced new features such as list comprehensions, cycle-detecting garbage collection, reference counting, and Unicode support. Python 3.0, released in 2008, was a major revision that is not completely backward-compatible with earlier versions. Python 2 was discontinued with version 2.7.18 in 2020. Python consistently ranks as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scientific American
''Scientific American'', informally abbreviated ''SciAm'' or sometimes ''SA'', is an American popular science magazine. Many famous scientists, including Albert Einstein and Nikola Tesla, have contributed articles to it. In print since 1845, it is the oldest continuously published magazine in the United States. ''Scientific American'' is owned by Springer Nature, which in turn is a subsidiary of Holtzbrinck Publishing Group. History ''Scientific American'' was founded by inventor and publisher Rufus Porter (painter), Rufus Porter in 1845 as a four-page weekly newspaper. The first issue of the large format newspaper was released August 28, 1845. Throughout its early years, much emphasis was placed on reports of what was going on at the United States Patent and Trademark Office, U.S. Patent Office. It also reported on a broad range of inventions including perpetual motion machines, an 1860 device for buoying vessels by Abraham Lincoln, and the universal joint which now can be found ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Sapolsky
Robert Morris Sapolsky (born April 6, 1957) is an American neuroendocrinology researcher and author. He is a professor of biology, and professor of neurology and neurological sciences and, by courtesy, neurosurgery, at Stanford University. In addition, he is a research associate at the National Museums of Kenya. Early life and education Sapolsky was born in Brooklyn, New York, to immigrants from the Soviet Union. His father, Thomas Sapolsky, was an architect who renovated the restaurants Lüchow's and Lundy's. Robert was raised an Orthodox Jew and spent his time reading about and imagining living with silverback gorillas. By age 12, he was writing fan letters to primatologists. He attended John Dewey High School and, by that time, was reading textbooks on the subject and teaching himself Swahili. Sapolsky describes himself as an atheist. He said in his acceptance speech for the Emperor Has No Clothes Award, "I was raised in an Orthodox household, and I was raised devoutly rel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suits Index
The Suits index of a public policy is a measure of tax progressiveness, named for economist Daniel B. Suits. Similar to the Gini coefficient, the Suits index is calculated by comparing the area under the Lorenz curve to the area under a proportional line. For a progressive tax (for example, where higher income tax units pay a greater fraction of their income as tax), the Suits index is positive. A proportional tax (for example, where each unit pays an equal fraction of income) has a Suits index of zero, and a regressive tax (for example, where lower income tax units pay a greater fraction of income in tax) has a negative Suits index. A theoretical tax where the richest person pays all the tax has a Suits index of 1, and a tax where the poorest person pays everything has a Suits index of −1. Tax preferences (credits and deductions) also have a Suits index. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality Metrics
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty and fairness. Income distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital. It is often related to wealth distribution, although separate factors influence wealth inequality. Modern economists have also addressed this issue, but have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generalized Entropy Index
The generalized entropy index has been proposed as a measure of income inequality in a population. It is derived from information theory as a measure of redundancy in data. In information theory a measure of redundancy can be interpreted as non-randomness or data compression; thus this interpretation also applies to this index. In addition, interpretation of biodiversity as entropy has also been proposed leading to uses of generalized entropy to quantify biodiversity. Formula The formula for general entropy for real values of \alpha is: GE(\alpha) = \begin \frac\sum_^N\left left(\frac\right)^\alpha - 1\right& \alpha \ne 0, 1,\\ \frac\sum_^N\frac\ln\frac,& \alpha=1,\\ -\frac\sum_^N\ln\frac,& \alpha=0. \end where N is the number of cases (e.g., households or families), y_i is the income for case i and \alpha is a parameter which regulates the weight given to distances between incomes at different parts of the income distribution. For large \alpha the index is especially sensit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Atkinson Index
The Atkinson index (also known as the Atkinson measure or Atkinson inequality measure) is a measure of income inequality developed by British economist Anthony Barnes Atkinson. The measure is useful in determining which end of the distribution contributed most to the observed inequality. Definition The index can be turned into a normative measure by imposing a coefficient \varepsilon to weight incomes. Greater weight can be placed on changes in a given portion of the income distribution by choosing \varepsilon, the level of "inequality aversion", appropriately. The Atkinson index becomes more sensitive to changes at the lower end of the income distribution as \varepsilon increases. Conversely, as the level of inequality aversion falls (that is, as \varepsilon approaches 0) the Atkinson becomes less sensitive to changes in the lower end of the distribution. The Atkinson index is for no value of \varepsilon highly sensitive to top incomes because of the common restriction that \varep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Redistribution Of Income And Wealth
Redistribution of income and wealth is the transfer of income and wealth (including physical property) from some individuals to others through a social mechanism such as taxation, welfare, public services, land reform, monetary policies, confiscation, divorce or tort law. The term typically refers to redistribution on an economy-wide basis rather than between selected individuals. Interpretations of the phrase vary, depending on personal perspectives, political ideologies and the selective use of statistics. It is frequently used in politics, where it is used to refer to perceived redistribution from those who have more to those who have less. Occasionally, however, the term is used to describe laws or policies that cause redistribution in the opposite direction, from the poor to the rich. The phrase is often coupled with the term ''class warfare'', with high-income earners and the wealthy portrayed as victims of unfairness and discrimination. Redistribution tax policy should ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Inequality Metrics
Income inequality metrics or income distribution metrics are used by social scientists to measure the distribution of income and economic inequality among the participants in a particular economy, such as that of a specific country or of the world in general. While different theories may try to explain how income inequality comes about, income inequality metrics simply provide a system of measurement used to determine the dispersion of incomes. The concept of inequality is distinct from poverty and fairness. Income distribution has always been a central concern of economic theory and economic policy. Classical economists such as Adam Smith, Thomas Malthus and David Ricardo were mainly concerned with factor income distribution, that is, the distribution of income between the main factors of production, land, labour and capital. It is often related to wealth distribution, although separate factors influence wealth inequality. Modern economists have also addressed this issue, but have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
