In case you missed it, there was a very intriguing article in the NY Times this past weekend dealing with household consumption. The argument is that household consumption is a far more reliable indicator of economic prosperity than household income, because raw income numbers don’t tell us how that money is being used and how the income disparities really pan out in terms of lifestyle disparities. In other words, just knowing how much you make in a year is not going to show the real differences between the have-s and the have-nots. I’m interested in hearing your thoughts on this article and the graphical data it holds — it would suggest that our lifestyle gaps are not as profound as we once thought, and that America’s consuming habits are homogenizing –and becoming increasingly ravenous — for both rich and poor.
How Americans Spend Their Money
February 14, 2008 By