3 ms·
Beware the Flaw of Averages, my son: https://aneconomicsense.files.wordpress.com/2015/02/going-from-gdp-per-capita-to-median-wage-1947-to-2013142.png https://a
by rexpop 8y ago
Beware the Flaw of Averages, my son:
https://aneconomicsense.files.wordpress.com/2015/02/going-from-gdp-per-capita-to-median-wage-1947-to-2013142.png https://aneconomicsense.files.wordpress.com/2015/02/going-fr...
- deogeo 8y agoEspecially relevant here, since if all the income went to a single person, and everyone else was reduced to living under bridges, the average wage would stay the same.