Income inequality
Poverty Isn’t What It Used To Be
That’s why we can’t measure it
What does it mean to be poor, anyway?
Economists and governments measure poverty in many different ways, but the best measure is how you feel. People know when they are poor, and they know when they are not.
I know what it is like to be poor, working class and middle class. Each time I shift from one or the other, I feel it — physically. When I’ve shifted down, I’ve felt the weight of it. When things have improved, I’ve felt the burden lift.
You can’t define these things. I’m not going to say how many dollars you need to have to qualify as middle class. But when you get there, you know.
The U.S. first set its measurement of poverty by taking the cost of a minimal food diet and multiplying it by three. That may have made sense at the time but it doesn’t now because for most of us, buying food is the least of our problems.
Do you have food, clothing and shelter?
These three things are no longer a good measure of well-being in the U.S.
Let me explain.
