Tagged: #wealth

The Great Escape by Angus Deaton

title text great escape: health, wealth, and the origins of inequalityThe Great Escape: Health, Wealth, and the Origins of Inequality by Angus Deaton (2013)

This is a good book. Highly recommended to read. Full of details that are really informative but results in a lot of numbers and statistics. The following tidbits are in random order rather than sequentially by chapters.

POVERTY IN THE UNITED STATES (P. 179+)

I have been puzzled a lot by how poverty is established because when I do the math, to pay for all the basics (rent, food, utilities, phone, Internet, medical insurance, drug insurance, co-pays and deductibles) it exceeds poverty by a lot. I don’t even remotely understand how any one can manage just the cost of tampons and diapers alone, much less clothing, especially for growing kids — the mind boggles. Prior to this section there was an informative but this part was a bit tedious on the GDP and how it is calculated. Informative true, but also depressing because he described how inadequate and somewhat spurious our economic system is based on the GDP.

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