[1] Stylized facts are broad tendencies that aim to summarize the data, offering essential truths while ignoring individual details.
Another stylized fact in economics is: "In advanced economies, real GDP growth fluctuates in a recurrent but irregular fashion".
Nonetheless, broadly speaking, people with more education tend to earn more, so the above example is true in the sense of a stylized fact.
When describing what is generally regarded as the first econometric macro model ever developed, Jan Tinbergen (1936) introduces the concept of stylization as follows: "To get a clear view, stylisation is indispensable.
"[2] The term "stylised facts" was introduced by the economist Nicholas Kaldor in the context of a debate on economic growth theory in 1961,[3] expanding on model assumptions made in a 1957 paper.
[4] Criticizing the neoclassical models of economic growth of his time, Kaldor argues that theory construction should begin with a summary of the relevant facts.