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Sunday, February 10, 2008

Consumption of the Rich and Poor

Interesting analysis in the New York Times of consumption by income category (for a quick summary, click on the chart):

If we look at consumption per person, the difference between the richest and poorest households falls to just 2.1 to 1. The average person in the middle fifth consumes just 29 percent more than someone living in a bottom-fifth household.
HT: Greg Mankiw's Blog

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