Charts that do not mean what you think they mean
A popular meme in media and social media is commentary about income distribution. The typical chart distributes the population into fifths or quintiles, like the chart shown here. The popular interpretation of this chart is to find your income level at left and conclude you are stuck in that quintile forever – and your prospects for advancement are non-existent. Did you know this interpretation is wrong? Most people do not stay in the same quintile. People look at this chart,…