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Millennials are indeed richer than their grandparents, which is the comparison you're making here. But not their parents. But GDP per capita is not a good stat
by nkoren 11y ago
Millennials are indeed richer than their grandparents, which is the comparison you're making here. But not their parents.
But GDP per capita is not a good statistic to be making this argument with, mostly because it is a mean rather than a median. Since 1971, much of those gains have gone to the the top 1%, and essentially all of those gains have gone to the top 20%.
- RobertoG 11y ago"But GDP per capita is not a good statistic to be making this argument with, mostly because it is a mean rather than a median. Since 1971, much of those gains have gone to the the top 1%, and essentially all of those gains have gone to the top 20%." That was also my point and GDP is the perfect statistic in my opinion.