And now for the rest of the story …
Source: Seattle hits record high for income inequality, now rivals San Francisco The data presented in the article is correct. But it leaves out critical information for understanding what this means overall, or even if it means what it purports to mean. Almost 20 years ago in a graduate economics course we learned that the “static” view of income at an instant in time is not a full picture. Not surprisingly, incomes change over time, often by a lot. Consider…