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by WarOnPrivacy 1086 days ago
It's a measurement intended to bring focus on the most common economic experiences - something that disconnected metrics aren't very good at.
1 comments
PaulDavisThe1st 1086 days ago
I applaud the focus. I am just not sure that the mode is the best way to do that. There is something compelling about "the income that the most people make". But I think "the income that is right in the middle of what everyone makes" has a slight edge for me in this respect. Anyway, it's a good thing to focus on, regardless of the metric chosen.
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WarOnPrivacy 1085 days ago
> I applaud the focus. I am just not sure that the mode is the best way to do that.

I'm not pitting it against BoL Statistics metrics. I use it to better communicate how the largest swath of the public experiences the economy.

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PaulDavisThe1st 1083 days ago
After another day, I think I realize my issue with using the mode.

The actual mode is going to be a single number, not a range, and it will correspond to very few people's incomes. To be usable in the way you mean, you need to add a range to it, and the size of that range is up for debate (mode +/- 1000? 2000? 10,000 ? etc)

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WarOnPrivacy 1085 days ago
>But I think "the income that is right in the middle of what everyone makes" has a slight edge for me in this respect.

I get that. However, that income doesn't reflect the largest bracket of the working population.

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