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URL:  http://boards.fool.com/an-interesting-article-by-richard-alm-and-michael-13476066.aspx

Subject:  Re: The New Luxuries Date:  10/12/2000  10:21 PM
Author:  wizand Number:  21629 of 744043

An interesting article by Richard Alm and Michael Cox is at: http://www.intellectualcapital.com/bios/bio375.html and Titled "Even the poor have more"

He states:In fact, by the standards of 1971, many of today's poor families might be considered members of the middle class.

In it he makes a case that the luxuries enjoyed by the average middle family of of a few decades ago are now widely used by today's "poor" families. Even "real" poverty by one definition has dropped from 31% in 1949 to 2% at the end of the 1980's.

Wizand

(The other articles on this link are also excellent.)

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