In economics, the Gini coefficient, also known as the Gini index or Gini ratio, is a measure of statistical dispersion intended to represent the income inequality, the wealth inequality, or the consumption inequality within a nation or a social group. It was developed by Italian statistician and sociologist Corrado Gini.

The Gini coefficient is indeed a crucial tool in understanding economic disparity within a society. It provides an insightful perspective into the levels of income or wealth inequality.