How Poor are the Poor?
The poorest 5% of Americans are among the richest people in the world (richer than nearly 70% of other people in the world). The poorest 5% of Americans, for example, are richer than the richest 5% of Indians.
From Branko Milanovic’s book The Haves and Have Nots via Tyler Cowen and others.
Very interesting. It’s good to put these things in perspective.
It’s amazing that the poorest 5% of Americans are in the top one-third of the richest people in the World. The statistic about India is especially telling.
You’ve answered your own question. By world standards, the poor in the United States are rich.
There is an interesting graph illustrating the findings at Marginal Revolution
no to much..
things will change