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Ah, so a one-off anomaly. Over time it seems that median income is considerably underperforming. [1][2] [1] https://www.rand.org/pubs/working_papers/WRA516-1.h
by shakethemonkey 6y ago
Ah, so a one-off anomaly. Over time it seems that median income is considerably underperforming. [1][2]
[1] https://www.rand.org/pubs/working_papers/WRA516-1.html https://www.rand.org/pubs/working_papers/WRA516-1.html
[2] https://www.fastcompany.com/90550015/we-were-shocked-rand-study-uncovers-massive-income-shift-to-the-top-1 https://www.fastcompany.com/90550015/we-were-shocked-rand-st...
- bhupy 6y agoSure, we have seen "anomalous" years for median earners from time to time, but it's important to remember that over time real median income has still been increasing as a function of the business cycle — I.e. the first derivative has always been positive during bull economies (see: FRED historic data). Sometimes the second derivative is also positive, which isn't uncommon. In 2019, the second derivative was not only positive, it was very positive.