Posts tagged with: statistics

MallOfAmerica3Is the middle-class economically stagnant? And is “middle-class” a misnomer? Should we really be talking about the bottom of the economic pile? After all, isn’t the 1% controlling everything?

Cato Institute Senior Fellow Alan Reynolds says the government’s claim of middle-class stagnation is based on faulty statistics. In Monday’s Wall Street Journal, Reynolds quotes Sen. Elizabeth Warren (D., Mass.), speaking at an AFL-CIO conference: “Since 1980, guess how much of the growth in income the [bottom] 90% got? Nothing. None. Zero.”

Reynolds take on this?

Real personal consumption per person has tripled since 1968 and doubled since 1980, according to the BEA. Are all those shopping malls, big box stores, car dealers and restaurants catering to only the top 10%? The question answers itself. (more…)

Google recently announced that it has purchased the Trendalyzer software from Gapminder, a Swedish non-profit (HT: Slashdot). Trendalyzer is the brain-child of professor Hans Rosling, who was lecturing on international development “when it struck him that statistics were an underexploited resource, often presented in an incomprehensible fashion. To solve the problem he developed – along with his son – a new kind of software.”

One interesting aspect of this purchase is that the software’s inventor won’t profit from its sale, since it was run under the auspices of a non-profit and was financed by public money. “It’s not an operating business that was sold, just the software and a web site. Although I would gladly accept that kind of money,” said Rosling.

To see the software in action, see the video of a lecture given by Rosling in February of 2006. Don’t just pay attention to the software, however. Rosling has some pretty important observations about how the West views the “developing” world.