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Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.
In the aftermath of the marginal revolution in economics, a number of economists including John Bates Clark and Thomas Nixon Carver sought to derive an ethical theory of income distribution based on the idea that workers were morally entitled to receive a wage exactly equal to their marginal product.
He is the Editor-in-Chief of the Journal of Economic Growth, a co-director of the NBER research group on Income Distribution and Macroeconomics, and a Research Fellow of the Centre for Economic Policy Research.