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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 155.00-5.0%3:59 PM EST
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To: LLCF who wrote (2965)10/22/1997 7:31:00 PM
From: John Cuthbertson  Read Replies (1) of 10921
 
>>The economist Robert Samuelson wrote a good newspaper column on this very point last week, using as an example the statistics on "Median Family Income" from the Census Bureau.

Oops, I meant Paul Samuelson, of course. I guess this kind of mistake is what comes of trying to show off my erudition on line at 2AM :-)

>Are you saying that "Median Family Income" is lower because of the smaller size of the family?? How does that work?

Yes! That is exactly what I (and Paul S.) are saying. It works that way because the decrease in household size is not so much due to fewer kids per set of parents (as you seem to be interpreting it) but to fewer two-parent households. The number of wage-earners per household has thus on average decreased.

>I bet a "family" of one woman and 3 kids for example arent in the study!

These were figures from the Census Bureau; everybody is included, at least in a statistical sense. Your example in fact illustrates the problem: this family would once have been more likely to consist of 5 people, including a father.

It's not that a stagnant "median family income" may not represent a problem, but that what could appear to be an economic problem is really instead a social problem. Again, I can probably dig up the original article if you're interested.

==John
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