- Cafe Hayek - http://cafehayek.com -

Rich Poor Americans

Tweet [1]

Any number of lessons – some correct, many incorrect – might be drawn from my favorite passage in this past Sunday’s New York Times Book Review; it’s from Catherine Rampell’s review of Branko Milanovic’s The Haves and the Have-Nots [2]:

The typical person in the top 5 percent of the Indian population, for example, makes the same as or less than the typical person in the bottom 5 percent of the American population. That’s right: America’s poorest are, on average, richer than India’s richest — extravagant Mumbai mansions notwithstanding.

Comments