Tuesday, November 8, 2011

It's Very Easy To Tell Big Lies With Statistics

IBD
By Thomas Sowell

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.

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