00:01
All right, so let's talk about the genie coefficient.
00:09
So, genie coefficient is used to measure income inequality, which is basically the distribution of wealth.
00:25
Okay, so when the genie coefficient equals zero, then that means perfect income equality.
00:42
Right? so that means, yeah, the distribution of wealth is even.
00:46
And then when genie is one, that means there's perfect income inequality, inequality, which means it's very, very, very unequal.
01:02
So when we think about this, if the u .s.
01:06
Has a genie of 0 .4 in sweden has a genie of 0 .25, then which is more equal and which is less equal? well, we know that closer to one means more unequal.
01:24
So the u .s.
01:26
Is more unequal, right? less equal...