Nassim Nicholas Taleb Quote
In his book The Nature of Rationality he gets, as is typical with philosophers, into amateur evolutionary arguments and writes the following: Since not more than 50 percent of the individuals can be wealthier than average. Of course, more than 50% of individuals can be wealthier than average. Consider that you have a very small number of very poor people and the rest clustering around the middle class. The mean will be lower than the median. Take a population of 10 people, 9 having a net worth of $30,000 and 1 having a net worth of $1,000. The average net worth is $27,100 and 9 out of 10 people will have above average wealth.
Nassim Nicholas Taleb
In his book The Nature of Rationality he gets, as is typical with philosophers, into amateur evolutionary arguments and writes the following: Since not more than 50 percent of the individuals can be wealthier than average. Of course, more than 50% of individuals can be wealthier than average. Consider that you have a very small number of very poor people and the rest clustering around the middle class. The mean will be lower than the median. Take a population of 10 people, 9 having a net worth of $30,000 and 1 having a net worth of $1,000. The average net worth is $27,100 and 9 out of 10 people will have above average wealth.