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> median is better as you point out As the grandparent post correctly stated, median GDP cannot be computed. In cannot even be defined!
by pif 4y ago
> median is better as you point out
As the grandparent post correctly stated, median GDP cannot be computed. In cannot even be defined!
- rbanffy 4y agoIt assumes a normal-ish distribution. Mode would be a better single-number measure, but it’s the income x number of people curve that carries the important message.
- pif 4y agoYou didn't read the opening comment from jstx1, did you? GDP is not income. Personal GDP is not defined.
- rbanffy 4y agoI'm sorry I didn't make myself clearer. I'm not talking about GDP, but income (which has a distribution curve). OTOH, we can see that curve in a global context, of GDP per capita across countries. It's a boring curve, very power-law ish with slightly odd peak in the 30K-40K region. https://imgur.com/a/BqsQDT9 https://imgur.com/a/BqsQDT9