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http://boards.fool.com/an-interesting-article-by-richard-alm-and-michael-13476066.aspx
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| Subject: Re: The New Luxuries | Date: 10/12/2000 10:21 PM | |
| Author: wizand | Number: 21629 of 683226 | |
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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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