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  E-mail Message: I thought you might be interested in this item at http://www.worldcat.org/oclc/40606751 Title: Myths of rich & poor : why we're better off than we think Author: W Michael Cox; Richard Alm Publisher: New York, N.Y. : Basic Books, ©1999. ISBN/ISSN: 046504784X 9780465047840 0465047831 9780465047833 OCLC:40606751

  
  

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Subjects

• United States -- Economic conditions -- 1971-1981.
• United States -- Economic conditions -- 1981-2001.
• Cost and standard of living -- United States.
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Myths of rich & poor : why we're better off than we think

Author:	W Michael Cox; Richard Alm
Publisher:	New York, N.Y. : Basic Books, ©1999.
Edition/Format:	Book : English : 1st ed
Summary:	Dismantling dozens of firmly-held beliefs, Cox and Alm show that: "Real income" is an unreliable measure of living standards. Real wealth - the lifestyle Americans routinely enjoy - has skyrocketed; the poor have not gotten poorer. In fact, the average family living below the poverty line today is doing as well or better, in terms of material possessions, as middle-class families in 1971; corporate downsizing creates jobs in the long run; income mobility is alive and well. Of people at the bottom fifth of the income distribution in 1975, almost 3 in 10 were in the top fifth by 1991; and America's trade deficit is a sign of strength. We can afford to import more than we export because America is such an attractive haven for overseas investments.  Read more...
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