Friday, September 13, 2013

The Material Well-Being Of The Poor In The US Is High

From The Circle Bastiat Blog, "Poverty Just Ain’t What It Used To Be" by Joseph Salerno:
A newly released report by the U.S. Census Bureau indicates that most Americans living below the bureaucratically designated “poverty line” enjoy most modern conveniences. For example more than 80 percent of U.S. households below the poverty line have a: refrigerator (97.8%); stove (96.6%); television (96.1%); microwave oven (93.1%); air conditioner (83.4%); VCR/DVD player (83.2%); and cell phone (80.9%). In addition, more than half of households beneath the poverty level also have a: clothes washer (68.7%); clothes dryer (65.3%); computer (58.2%); and landline telephone (54.9).
But this comparison obscures the important point that capitalism long ago solved the problem of poverty in a meaningful sense and in doing so radically transformed the very concept of poverty.

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