Wednesday, September 29, 2010

Sailer on economic inequality

The Real Inequality Scandal: Rich, Poor and MSM Gang Up On American Middle Class
Most public discussions of inequality have been of limited utility because the fundamental measure is not income or wealth, but long-term standard of living. And that has two halves: how much you have to spend and how much whatever you spend it on costs.

Few commentators have thought systematically about the second half of the equation—the cost of living—even though we all obsess over it in our own lives.

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