Numbers Games & the Top One Percent

By:  Thomas Sowell
11/08/2011
       
Numbers Games & the Top One Percent

One of the things that has struck me, when I have gone on luxury cruise ships, is that most of the passengers look like they are older than the captain — and luxury cruise ships don't have juveniles as captains.  The reason for the elderly clientele is fairly simple: Most people don't reach the point when they can afford to travel on luxury cruise ships until they have worked their way up the income ladder over a long period of years.

The relationship between age and income is not hard to understand. It usually takes years to acquire the skills and experience that high-paying jobs require, or to build up a clientele for those in business or the professions.

But those in the media and in politics who are currently up in arms, denouncing income inequalities, seldom mention age as a factor in those inequalities.

The shrill rhetoric about differences in income proceeds as if they are talking about income inequalities between different classes of people. It would be hard to get the public all worked up over the fact that young people just starting out in their careers are not making nearly as much money as their parents or grandparents make.

One of the things that has struck me, when I have gone on luxury cruise ships, is that most of the passengers look like they are older than the captain — and luxury cruise ships don't have juveniles as captains.  The reason for the elderly clientele is fairly simple: Most people don't reach the point when they can afford to travel on luxury cruise ships until they have worked their way up the income ladder over a long period of years.

The relationship between age and income is not hard to understand. It usually takes years to acquire the skills and experience that high-paying jobs require, or to build up a clientele for those in business or the professions.  But those in the media and in politics who are currently up in arms, denouncing income inequalities, seldom mention age as a factor in those inequalities.

The shrill rhetoric about differences in income proceeds as if they are talking about income inequalities between different classes of people. It would be hard to get the public all worked up over the fact that young people just starting out in their careers are not making nearly as much money as their parents or grandparents make.

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