Re:Humans Who Dream Of Companies That Won't Need Us
by phaemon on Saturday June 20, 2015 @06:51PM
(#9751311)
> I merely said the specific statistic used to argue this is a poor one.
No, you claimed, "All that statistics says is a lot of people have debt."
It does not say any such thing. The fact you can choose a contrived set of figures to match the median wealth figures doesn't mean that those figures are representative in any way of the actual distribution of wealth in the world. They certainly are not.
Your claim that the value of the median is mostly due to debt is flat out wrong. Your claim that possession of $150 puts your wealth above 50% of the planet is flat out wrong.
Your claim that Median(x) > $150 does not imply cumsum(x) > $150 is correct, assuming you don't know the distribution. One out of three ain't bad, I guess.
I never claimed this. I merely said the specific statistic used to argue this is a poor one.
Again, let me tweak my counterexample to precisely debunk your claim, since you seem to believe $3650 is a magic number while $100k (what I used) is not: [-3650, -3650, 3650, 3650, 3651]. This is a population with median wealth of $3650. The net wealth of the bottom 4/5 is $0 < $1 < $150.
Thus, you have not debunked my claim. Median(x) > $150 does not imply cumsum(x) > $150.