Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

The whole thing he is explaining is just regression to the mean. Yes, if you take people who are currently rich and people who are currently poor, over time the poor will likely go up in income and the rich go down.

Using this as a counterpoint to accusations of the rich taking all the gains is like pointing out that a wealthy duke could only pass his whole dukedom to one of his children, and the others would have to make do with much less.

It is simultaneously true that the gains of the last few decades have largely gone to "those who are rich", and that the identities of "those who are rich" are not completely stable.



The whole thing he is explaining is just regression to the mean.

The author directly addresses this further down in the article. Regression to the mean is a possible explanation of the numbers he cites, but it doesn't refute the main point he's making, which is that some numbers suggest poor people capture more of the gains from economic growth than is widely thought.


It's not just a possible explanation, it's the most obvious one. It's a well understood phenomenon that results in exactly what he's discussing here.

> some numbers suggest poor people capture more of the gains from economic growth than is widely thought.

Some individual poor persons will, yes. "The poor", as a class, will not.


“Widely thought” based on what? This seems like the building of a straw man.


> the identities of "those who are rich" are not completely stable.

And yet, for the US at least, it's become more stable than it was.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: