You definition: “Income inequality is the difference between highest and lowest earners.” The IMF definition as per your source: “Income Inequality, which refers to the extent to which income is evenly distributed within a population”
This is the same thing written conversationally and professionally.
More to the point, it’s clear we’re discussing the same thing through context, so why choose this hill to repeatedly die on?
Then again that wouldn’t be possible in the Mercantilistic Economic System we have
You’re not serious here right? I don’t need to address this? You’re not being literal?
I really can’t see how it would be possible to both provide for the life’s essentials for everybody AND have somebody with enough monetary tokens to lay claim to most of the wealth produced in the country (unless we’re talking about worthless dollars, such as the ones in Zimbabwe at some point, in which case most people would be quadrillionaires anyway).
It’s important to understand that “lots of paper dollars” does not mean wealth. For instance, here, you conflate having lots of paper dollars with being wealthy while also suggesting that the money is worthless (which is correct), but you’re missing that people can still own a significant portion of wealth in a country even if that country is destitute.
Having lots of money doesn’t mean you pay claim to lots of wealth. That’s backwards. Having lots of wealth is represented by you having easy access to money. Billionaires aren’t sitting on vaults full of cash. That would be insanely stupid. Their money is invested.
I’d highly recommend doing some reading on the various aspects you’re not understanding here.