WHEN I SEE STUDIES COMPARING THE POSITIVE / NEGATIVE ASPECTS OF VARIOUS COUNTRIES, it’s seems like lately Denmark and Sweden are always full of win.
Putting income inequality in context
What does the Gini coefficient mean?
The Gini coefficient (named after the Italian statistician Corrado Gini) is the most commonly used measure of income inequality. It calculates the extent to which the distribution of income among individuals within a country deviates from a perfectly equal distribution. A Gini coefficient of 0 represents perfect equality (that is, every person in the society has the same amount of income); a Gini coefficient of 100 represents perfect inequality (that is, one person has all the income and the rest of the society has none).
How does Canada compare to its peers?
Income inequality is higher in Canada than in 11 of the peer countries. Although Canada’s wealth is distributed more equally than in the U.S., Canada’s 12th place ranking suggests it is doing a mediocre job of ensuring income equality. Canada gets a “C” grade on this indicator.
Denmark and Sweden, which have the lowest levels of poverty among children and their working-age populations, are also the clear leaders on the income inequality indicator. The relationship between social spending and poverty rates has become more obvious over time, so it is no surprise that these leading countries boast strong traditions of wealth distribution. Their success in maintaining low poverty rates is attributable to a universal welfare policy that has been effectively combined with job creation strategies that support gender equality and accessibility.
[...] Denmark, Finland, and Sweden have consistently been the leaders on this indicator, scoring “A” grades for each decade. The U.S. and Italy have been consistent “D” performers.