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As you're no doubt aware, these kinds of analyses can be tricky when dealing with fat-tailed distributions, such as income. Using the median can hide exactly th
by vannevar 8y ago
As you're no doubt aware, these kinds of analyses can be tricky when dealing with fat-tailed distributions, such as income. Using the median can hide exactly the kinds of large disparities that Piketty, et al, are talking about. Likewise, saying that 93% of the poor exceeded their parents' income while only 70% of the wealthy did so leaves out the most important number, which is the aggregate amount by which each group benefited.
I don't believe anyone has made the claim that the poor have gotten nothing; only that they have gotten a grossly disproportionate share of growth. Nothing in your article refutes that premise. Indeed, you seem to go out of your way to avoid actually addressing it directly.