The Gut Cup

Things I think, that you should too.

December22

Economists tend to judge in absolute terms. If my real income doubles that’s a big win for me—even if yours triples. We find it odd and annoying that other people often prefer to look at relative measures. If the income of poor people doubles and the income of rich people triples, many will see that as the poor losing out, or at least falling behind.

A perceptive comment.

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