The purpose of this post is to show the large gap in income in America. I was going to go further but seeing as how you can't even find the average income in the US on Google, Wikipedia, etc. I thought this was a story in and of itself.
If you type in U.S. GDP (gross domestic product) into Google you get 13.84 trillion. That's the total amount of money that our economy produces every year.
If you ask Google the U.S. population you get about 304 million (as of July 2008).
If you then take GDP and divide it by population something interesting happens; $45,553 comes out. That seems a bit high, no?
I'm not really trying to get into the current market events so much, as it has little to do with what I'm currently trying to show. The problem with dividing GDP by population is that the entire population doesn't work. Currently in the US about 154 million people comprise the workforce, and only 140 million of those have jobs, the rest are unemployed (currently about 9%, all of this can be found on the Bureau of Labor Statistics website, page 11). In March of 2008 there were 145 million working people in the US. If you take that same 13.84 trillion in GDP and divide it by a working population that numbers 145 million you get about $95,000 per worker... what? Only about 6.2% of workers make that much or more money, and the median wage of an individual over 25 years old is $32,000 for everyone or $39,000 for the full time worker.
Am I doing something wrong? Medians tend to be representative of "typical" in a sample size and not necessarily closely related to average, but for this to be the case there needs to be a large disparity in income. Of course we all know that this is the case, but still... that's a lot more than I expected. If $39,000 is typical and $95,000 is average that essentially means there are a lot of people making about $40K a year and a few people making a million a year. I'm a bit worried I'm assuming something I shouldn't be. This calculation worries me because I don't believe in the general notion of a meritocracy. That is, that wages follow hard work. It does to some extent, but not like many people believe. To attain that kind of money we're talking about you must rely on the labors of others. Others who are paid the 'median' of 2.5 times less than the average.
abraham lincoln
abraham maslow
academic papers
africa
aging
aid
alexander the great
amazon
america
android os
apple
architecture
aristotle
art
art institute chicago
astronomy
astrophysics
aubrey de grey
beck
beer
berlin
bernacke
bicycle
BIG
bill murray
biophilia
birds
blogs
bob dylan
books
bourdain
brewing
brian wansink
buckminster fuller
bukowski
cameras
cancer
carl jung
carl sagan
cemetary
change
charter city
chicago
china
christmas
church
civil war
climate change
cologne
construction
coop himmelblau
copenhagen
cornell west
cps
craigslist
crime
crown hall
cyanotype
cyrus
dalai lama
darkroom
data
dbHMS
death
design build
dessau
detail
Diet
dogs
dome
dongtan
douglas macarthur
drake equaation
dresden
dubai
ebay
eco
economics
economy
education
einstein
emerson
emily dickinson
energy
experiments
facebook
farming
finance
finland
florida
food
france
frank lloyd wright
frei otto
freud
frum
funny
furniture
games
gay rights
gdp
george w bush
george washington
germany
ghandi
glenn murcutt
goals
good
google
government
graphic design
guns
h.g. wells
h.l. mencken
hagakure
halloween
health
health care
henri cartier bresson
herzog and demeuron
honey
housing
human trafficking
humanitarian efforts
hydroponics
ideas
iit
indexed
india
industrial design
industrial work
internet
investments
japan
jaqueline kennedy
jim cramer
john maynard keynes
john ronan
john stewart
journalism
kickstarter
kings of leon
kittens
krugman
kurt vonnegut
kurzweil
lao tzu
law
le corbusier
ledoux
leon battista alberti
links
LSH
madoff
malcolm gladwell
marijuana
marriage
masdar city
math
mead
medicine
microsoft
mies van der rohe
military
milton friedman
mlk
money
movies
munich
murphy/jahn
music
nasa
nervi
neutra
new york
nickel
nietzsche
nobel prize
norman foster
nsa
obama
occupy
open source
paintball
palladium print
paris
parking
party
passive house
paul mccartney
persia
philip roth
philosophy
photography
picturequote
pirate bay
pirating
plants
poetry
poker
politics
portfolio
potsdam
predictions
prejudice
presidents
process photos
prostitution
psychology
public housing
q and a
quotes
rammed earth
randy pausch
reading
reddit
regan
religion
rendering
renewables
renzo piano
restaurants
revolution
richard meier
richard rogers
robert frank
rome
rubik's cube
rule of 72
rumi
san francisco
sartre
sauerbruch hutton
saule sidrys
schinkel
school
science
screen printing
seattle
sesame street
seth roberts
sketch
social media
soviet
sparta
spider
spinoza
sports
stanley kubrick
stanley milgram
statistics
steinbeck
sudhir venkatesh
suicide
sustainable design
switzerland
taxes
technology
ted
teddy roosevelt
tension
terracotta
tesla
thanatopsis
the onion
thomas jefferson
thoreau
time lapse
tommy douglas
transportation
travel
truman
tumblr
unemployment
urban design
van gogh
venezuela
vicuna
video
video games
wall street
war
werner sobek
wood
woodshop
woodworking
ww1
ww2
No comments:
Post a Comment