Mean vs. Median Savings in France: The Big Scam Unveiled

Christian Baghai
5 min readDec 12, 2024

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Photo by Geoff Brooks on Unsplash

Alright, let’s cut the crap. In France, they throw around two big numbers when talking about wealth: the average (mean) and the median, and let me tell you, these two don’t just walk into a bar — they live in completely different universes. The mean net wealth per household? A shiny, eye-popping €239,900. The median? A humbler €117,000. See the trick? It’s like comparing a yacht party to a bus ride and pretending everyone’s having the same good time.

1. The Concentration of Wealth: The Real Magic Trick

  • What the Mean Really Means: The mean is like that rich uncle at family gatherings who brags about his offshore accounts. It’s puffed up by a handful of super-rich folks hoarding real estate, stock portfolios, and probably half of Bordeaux’s wine reserves. Turns out the wealthiest 10% of French households own nearly 50% of the country’s wealth. Shocking? No. Predictable? Absolutely.
  • What the Median Tells You: The median’s more like your struggling cousin working three jobs. It’s the halfway point, where half the people have less, and half have more. At €117,000, it’s the number that actually reflects how most people live — scraping by while the rich play Monopoly with the nation’s assets.

2. Why the Gap Matters: Inequality in Action

  • Inequality on Display: If you thought wealth was like bread, evenly spread, think again. In a fair society, the mean and median would be cozy neighbors. In reality? They’re not even in the same arrondissement. The wider the gap, the clearer it is: a few fat cats are hogging the cheese.
  • Policymakers’ Favorite Lie: Politicians love the mean because it lets them spin fairy tales about prosperity. “Look how rich we are!” they say, conveniently forgetting that most people are nowhere near that average. Policies based on the mean? They’re basically subsidies for the rich, with everyone else footing the bill.

3. How Inequality is Baked In

  • Real Estate: The Ultimate Piggy Bank: Rich folks aren’t just buying homes; they’re collecting them like Pokémon cards, pushing their wealth sky-high while regular folks struggle to pay rent.
  • Financial Assets: Stocks for the Few: Stocks and bonds? Forget it. The rich have cornered that market too, turning your savings account into pocket change compared to their returns.
  • Inherited Wealth: Born Into the Game: In France, you don’t earn wealth — you inherit it. If you weren’t born with a silver baguette in your mouth, tough luck. Generational wealth keeps the game rigged, ensuring the same families stay at the top.

4. The Fallout: Inequality Hurts Everyone

  • No Social Mobility, No Hope: Without assets, you’re stuck. And while the rich get richer, everyone else gets angrier — and rightfully so.
  • Less Spending, Less Growth: People closer to the median spend most of what they earn. When wealth is concentrated, the economy stalls because rich people save or invest instead of spending.
  • Social Unrest Brewing: Ever wonder why populism is on the rise? It’s not rocket science. When the game feels rigged, people want to flip the table.

5. Why the Median Matters

  • A True Measure of Reality: The median is the litmus test for how society’s really doing. If policymakers paid attention to it, we’d get actual solutions instead of rich-people welfare disguised as economic growth.
  • Tax the Rich: Close that mean-median gap by taxing the hoarders and redistributing wealth.
  • Affordable Housing: Make sure regular folks can buy homes instead of just paying landlords who’ve got 15 properties.
  • Real Inclusion: Lift the median, and you lift everyone. Focus on the typical household instead of catering to the top 10%, and suddenly, the economy works for more than just a select few.

6. The Bottom Line

The difference between the mean and the median in France isn’t just a statistic — it’s a slap in the face to anyone not born into wealth. The mean lets politicians and economists pretend the system’s fine, while the median screams the truth: most people are getting screwed. You want a fair society? Stop selling us on averages and start fixing the damn system. Because right now, France isn’t just unequal — it’s a rigged casino where the house always wins.

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Christian Baghai
Christian Baghai

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