Lao niang explain: What is Gini coefficient?

This Gini in Gini coefficient is not the same as the Genie in Aladdin hor.

The Ang Moh definition is:

“This Gini coefficient, or Gini index, is a measure of the distribution of income across a population and is commonly used to measure inequality.

It is a way of comparing how distribution of income in a society compares with a similar society in which everyone earned exactly the same amount. The Gini coefficient is between 0, where everyone earns the same, and 1, where one person earns all the money.”

But if the above is too cheem to understand ah, aiya, you just need to know this:

The Gini coefficient is used to measure how the wealth is being distributed in a country among the poor and the rich. If the Gini coefficient is closer to 0, then there is more income equality. But if the Gini coefficient is closer to 1, then there is less income equality.

0 = complete equality; 1 = complete inequality

But bo ko leng will have country will have 0, which is complete equality one lah. So the aim is to be as close to 0 as possible.

Why is it important to know this Gini coefficient leh?

Because Singaporeans always like to KPKB about poverty and inequality, say the Gahmen never help the poor people lor.

But if you only use your mouth to say, bo pakeh one mah. So you need to know about this Gini coefficient then when you talk to people about this topic, you got stats and figures to cover your backside, can scold the Gahmen even louder!

Go out xian zha bor also make you sound more intelligent.

So, what is Singapore’s Gini co-efficient?

According to statistics released in this report here hor, Singapore’s Gini coefficient has decreased.

In 2018, it was 0.458. But in 2019, it decreased to 0.452. Means hor our income inequality is at its lowest levels, and is the lowest ever liao, since 2001.

And if you ham ba lang include all the transfers and taxes and all the wu eh bo eh from Gahmen, the Gini coefficient in 2019 will be even lower and closer to 0 wor. From 0.452 decrease to 0.398.

Source

So hor, all the Gahmen transfer and help is got use one, it DID help to close up the inequality gap. You see? Support low income workers not only one way hor. Those who think minimum wage is the only way can go fly kite! You can don’t like the Gahmen, but you cannot don’t like the money they give, tio bo? Use their money first lah!

By the way, all these figures not suka-suka pluck from the sky one hor. In case you didn’t know, all these information need to pass up to the United Nations one wor.

If anyhowly bomb one figure, and later they check and find out is not correct hor, sibei malu one sia.


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