The Rise of Consumption Equality (online.wsj.com) |
The Rise of Consumption Equality (online.wsj.com) |
Instead of worrying about "income inequality", we should focus on pushing consumption equality further down the stack so that even our "poor" largely have it. We still have a long way to go in this respect. I'd say that the 'middle class' still lives a bit of a different kind of life than the 'working poor'. A guy who lives on 10k/year is much farther away from a guy who makes 100k than that guy who makes 100k is from a guy who makes 10mil.