Income inequality is increasing and if we look at absolute growth numbers, they look horrifying. One way to gauge the situation is to look at year-on changes, however, is there any 'optimal' range/ratio of income distribution amongst different income groups?
Ideally there should equity, however, in the world we live in, are there studies/yardsticks that one can plan towards?
Thanks!
There's no equitable distribution
The container has capacity but people have no limit. Some earn arithmetically & some geometrically, some follow principles & others may not. Some earn doing hard physical labour, some have intellectual property & some other means. It's political will which can take stock of control mechanism but alas, no one is interested to redress these issues. Everyone ( exceptions) is running from pillar to post to earn by hook or... In a materialistic world it's impossible but can be controlled with strong political will & patriotic spirit.
I usually use deciles.
A decile is a quantitative method of splitting up a set of ranked data into 10 equally large subsections.
A decile rank arranges the data in order from lowest to highest and is done on a scale of one to 10 where each successive number corresponds to an increase of 10 percentage points.
This type of data ranking is performed as part of many academic and statistical studies in the finance and economics fields.
Thanks Mario Francisco Giani Monteiro - this can help with data sorting.
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