Upper class represents highest social status and wealth in society. Controls disproportionately large amount of overall wealth. Historically dominated by land-owning nobility and aristocrats. Today includes celebrities, politicians, investors, and wealthy individuals
The Gini coefficient measures inequality on a scale from 0 to 1. It was developed by Italian statistician Corrado Gini. Values of 0 indicate perfect equality, 1 indicates perfect inequality
Data comes from World Bank's Poverty and Inequality Platform (PIP). Household surveys are harmonized across countries and time periods. No global survey exists for incomes, only national surveys
Economic inequality includes income, wealth, and consumption distribution. Gini coefficient measures income inequality between 0 and 1. Inequality-adjusted Human Development Index considers inequality
Unpaid work includes labor without direct remuneration. Production boundary separates unpaid from paid work in GDP. Shadow work involves consumer tasks like assembly and self-service
Production combines inputs to create value-added goods and services. Land, labor, and capital are fundamental factors of production. Economic welfare is created through production activities. Market production is the primary driver of economic well-being