Buffalo Quote by David Cay Johnston
““No person, I think, ever saw a herd of buffalo, of which a few were fat and the great majority lean. No person ever saw a flock of birds, of which two or three were swimming in grease, and the others all skin and bone.” —Henry George, American reformer, 1839–1897””
About This Quote
Source Essay: “The Myth of the Average” in The New York Times, 2010
Most of a population is average; extremes are rare, so we should not assume typicality based on a few examples.
In simple terms: Most people are average; few are very rich or very poor.
Avoid overgeneralizing from outliers.
Themes
Mood
Type
When to use this quote
- Market analysis
- policy making
- media reporting
- financial planning
Key Concepts
Questions to Reflect On
- How do you identify true averages in data?
- What biases arise from focusing on extremes?
Rare extremes can skew perception if not contextualized.