What is measurement of inequality? Describe causes and effects of inequality.

Economic inequality is the fundamental cause that provides diverse choices one individual and denies to another. It is related to the concepts like lifetime, capabilities, political freedom, contribution to society. Let us look at few situations which show us this: There are two individuals, one earning more than the other but living in a country which denies him freedom like right to vote or travel. Similarly, one individual earning more than the other till a specific age and after that earns less than the other individual. So, economic inequality cannot be well-defined. It depends on whether we are choosing to look at the distribution of current income, distribution of wealth or distribution of lifetime income.

The measurement of inequality usually focuses on measuring inequality in outcomes (income or wealth or health or some other measure of well-being), variously using differences between the highest and lowest outcomes or variation nearer the middle or some other part of the distribution. Measures such as the 90th percentile divided by the 10th percentile characterize the gap between very high outcomes and very low outcomes—for example, the wealth or income of the rich and the poor—but there are many other measures of that gap.

 Measures of Inequality are -
1. Personal Distribution

This approach considers the total income earned by an individual. All the individuals earning same annual income will be considered in the same income group even if they have invested different number of work hours to earn that income. Location-based and occupational sources of income are not considered. 
2. Functional Distribution

The functional distribution or factor share distribution represents the percentage of income received by one factor of production in comparison to the income received by other three factors of production. In particular it’s the share of labour in total income compared to the share of total _________ _________ ______ ____ ______ __________ ______.
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