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Showing posts with the label Median Houisehold income

Middle Class Data Missing In Action In the Advanced Age of Data Management

TWEET THIS ARTiCLE USING THIS SHORT LINK  http://goo.gl/u2fKk0 My father often told me that in the 1950's , the distribution of wealth in the United States took the form of a bell curve with the greatest amount of wealth distributed amoungst the greatest number of people. I grew up with the bell curve image embedded into my mind . It is the image of an algorithm, a form of economic visualization which seems to have all but disappeared from the methods of reporting income distribution- replaced by graphs showing two lines- one for the top and the other for the bottom. The median household income displays statistics in two separate parts- Those making above the median and those making below the median and does not address the distribution of wealth within the two halves.The mean gives us the averaged income of a specific group- but none of that tells us how the wealth is distributed- is there a gradual curve of distribution? a series of steps? or a huge gulf between levels ? A