Great post. I would add that when we talk about lifting people out of poverty we’re literally talking about increasing their consumption. Consumption is also a synonym for the economic part of well-being.
I’d venture to speculate that the main reason we aren’t better at reducing poverty, increasing middle-class well-being, making life better for families, fighting disease, and other important goals, is because we don’t pay enough attention to increasing median consumption.
Great post. I would add that when we talk about lifting people out of poverty we’re literally talking about increasing their consumption. Consumption is also a synonym for the economic part of well-being.
I’d venture to speculate that the main reason we aren’t better at reducing poverty, increasing middle-class well-being, making life better for families, fighting disease, and other important goals, is because we don’t pay enough attention to increasing median consumption.