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Average-based metrics obscure real trends in British incomes, Vincent Geloso argues
Vincent Geloso raises concerns about how income growth is measured in Britain. The tweet contends that standard methods, which rely on averages, can overstate improvements in living standards because they are heavily influenced by the highest earners. As a result, while metrics may show apparent progress, most households may not experience meaningful gains.
Geloso suggests that better measurement methodologies are needed to accurately reflect changes in living standards for the majority.
Geloso has previously questioned studies that address economic measurement. In a prior response, he disputed the findings of a Journal of Finance study on social security and wealth inequality. That short response focused on the study's conclusions and methodology.
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