Quotation of the Day…

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… is from page 172 of the 2012 revised edition of Steven Landsburg’s great 1993 book, The Armchair Economist:

[I]ncome statistics don’t account for everything we value. For one thing, we care about the quantity and quality of our leisure time. Here it’s by and large the poor who have made great strides, while the rich have largely stagnated. Since 1965, between shorter workweeks and longer vacations, the average American gained 300 leisure hours per year – but the poorest Americans have gained twice that. Meanwhile, the quality of that leisure time has improved considerably since the days when your home entertainment options consisted of three black-and-white TV stations displayed on a nine-inch screen.