Avg. income w/college degree: $8.50. Avg. without: $3.50. Now suppose a new program pushes 2 more, the guys making $5 & $6, to get degrees.
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Replying to @St_Rev
Assume nobody's income actually changes. Then... avg. income w/degree: $7.50. avg. income without: $2.50. Both groups "lose" income!
2 replies 6 retweets 11 likes -
Replying to @St_Rev
NOTHING ACTUALLY CHANGED, but the NYT, Vox, et fucking c. have a field day trumpeting the economic horror.
6 replies 2 retweets 11 likes -
Replying to @soapjackal
@soapjackal Some labels got moved around. You can "solve" a Rubik's cube like that, but.7 replies 1 retweet 6 likes -
Replying to @soapjackal
@soapjackal Note that in this toy example, nobody's income changed. No economic effect at all, just a category boundary got moved.2 replies 0 retweets 2 likes -
Replying to @soapjackal
@soapjackal Sure, but irrelevant to *my* point: this is an easy way to catastrophically misread real trends.1 reply 0 retweets 3 likes -
Replying to @St_Rev
@soapjackal Closely related point: rich-get-richer/poor-get-poorer reports rarely account for category churn.2 replies 0 retweets 2 likes
@soapjackal i.e.: People move from rich to poor and poor to rich frequently. So a lot of rich-today were poor-last-year & vice versa.
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Replying to @St_Rev
@St_Rev@soapjackal (note there is some data that US income mobilityhas in fact decreased in the last few decades, but that's an aside)0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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. Banned in Sweden. SubGenius, Zhuangist, white-hat troll. Defrocked mathematician. Brain problems.