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The mean, or average, turns out to have some problems in that regard, namely, that it is prone to distortion by “outliers,”
The sensitivity of the mean to outliers is why we should not gauge the economic health of the American middle class by looking at per capita income.
(For that matter, income can go up even if the wage is falling, provided a worker logs enough hours on the job.)
“We don’t really learn anything from U.S. News about whether the education they got during those four years actually improved their talents or enriched their knowledge.”
you should always insure yourself against any adverse contingency that you cannot comfortably afford to withstand. You should skip buying insurance on everything else.
