Fraser Nelson, over at the Spectator, has a little post about how the UK, Britain (the native home for both of us), is actually poorer than all but one of the US States. Tucking in right behind Alabama and just above Mississippi. Despite the fact that he once fired me [...]
That’s the problem with averages vs medians. It completely overlooks wealth gap.
Here is an example. Moderna CEO made something like $500 million last year. If Moderna had 1000 employees, that would mean the company’s average employee pay is $500,000. And that’s before even adding their pay to this average.
That’s the problem with averages vs medians. It completely overlooks wealth gap.
Here is an example. Moderna CEO made something like $500 million last year. If Moderna had 1000 employees, that would mean the company’s average employee pay is $500,000. And that’s before even adding their pay to this average.
Exactly. The median wealth of me, my partner and Bill gates is basically zero. The average wealth in billions of dollars.