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|Subject: Re: The New Luxuries||Date: 10/12/2000 10:21 PM|
|Author: wizand||Number: 21629 of 852609|
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.
(The other articles on this link are also excellent.)
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