Edit: down votesfor stating an objective fact? Lol. I’m Australian BTW
Belgium is just housing, nothing else
Would be cool to see this with gini coefficients
No middle eastern countries make the top 20?
Be like Japan or Italy .. nowhere in the Top 20 for average wealth but in the Top 20 for Median
there’s a lot of other factors here…median and average age for example have a massive impact on the median.
The number of people on reddit that don’t understand mean and median are both measures of “average” is too damn high. Especially in population statistics if you say “average” most educated people will assume you’re talking about the median.
Highlights why those with an agenda (politicians, media) sometimes prefer “average” over “median”. Average it gives the audience the perception that things are better than the reality provided by using the “median”.
I mean this is interesting- but notably the average French person is 4 years older than the average American, and the average German is four years older than the average Frenchman. The average Swiss person is a year older still. Since average wealth tends to trend higher with age, the chart can be misleading about cross country comparisons.
Japan notably has the highest average age of any country in the world, followed by Italy.
Shows why means are not very useful when talking about most people.
Interesting fact .
Australian housing is considered by international financial types as over valued by about forty percent making housing in Australia amount the most overvalued assets in the world. Even more overvalued than the overhyped magnificent seven USA tech stocks. Australia is not doing that well in real terms.
America is 4th in Average wealth and 14th in median wealth. That’s demonstration of inequality
Do note that wealth takes into account debts and credits . For instance americans live by credit a lot so that highly impacts their median wealth .
This seems like an incomplete list, think they have looked into a fix number of countries. But still a good indicator year over year.
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Hong Kong is not a country
Edit: down votesfor stating an objective fact? Lol. I’m Australian BTW
Belgium is just housing, nothing else
Would be cool to see this with gini coefficients
No middle eastern countries make the top 20?
Be like Japan or Italy .. nowhere in the Top 20 for average wealth but in the Top 20 for Median
there’s a lot of other factors here…median and average age for example have a massive impact on the median.
The number of people on reddit that don’t understand mean and median are both measures of “average” is too damn high. Especially in population statistics if you say “average” most educated people will assume you’re talking about the median.
Highlights why those with an agenda (politicians, media) sometimes prefer “average” over “median”. Average it gives the audience the perception that things are better than the reality provided by using the “median”.
I mean this is interesting- but notably the average French person is 4 years older than the average American, and the average German is four years older than the average Frenchman. The average Swiss person is a year older still. Since average wealth tends to trend higher with age, the chart can be misleading about cross country comparisons.
Japan notably has the highest average age of any country in the world, followed by Italy.
Shows why means are not very useful when talking about most people.
Interesting fact .
Australian housing is considered by international financial types as over valued by about forty percent making housing in Australia amount the most overvalued assets in the world. Even more overvalued than the overhyped magnificent seven USA tech stocks. Australia is not doing that well in real terms.
America is 4th in Average wealth and 14th in median wealth. That’s demonstration of inequality
Do note that wealth takes into account debts and credits . For instance americans live by credit a lot so that highly impacts their median wealth .
This seems like an incomplete list, think they have looked into a fix number of countries. But still a good indicator year over year.
https://en.m.wikipedia.org/wiki/List_of_countries_by_wealth_per_adult
Iceland should have the highest median
I know nobody cares but it really rustles my jimmies how the word “average” is being used here.
Mean and median are both measures of “average”, as is mode, and some external measurements like par.
This graph is comparing mean and median, which are both “average”.
“But everyone means mean when they say average!” I hear you say.
Yes they do, and their language is imprecise.
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