tag:blogger.com,1999:blog-4630698150202460040.post8338546011856685232..comments2023-06-26T10:06:15.624-04:00Comments on Society and Money: The Two Measures of WealthKenhttp://www.blogger.com/profile/09661952199103268675noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4630698150202460040.post-64760281995539729162007-01-25T11:59:00.000-05:002007-01-25T11:59:00.000-05:00Comparing the kid's $500 to his previous $250 tell...Comparing the kid's $500 to his previous $250 tells us that his lot is <i>improving</i>, much as the kid who grows an inch in a year is <i>taller</i>. As far as your post goes, however, that inch might be normal, stunted, or part of a growth spurt.<br /><br />So, I think we really have two different concerns going on here (maybe three):<br /><br />When we're talking about the lot of a certain group of people, probably the most important "absolute" measure is whether they can live a humane life. Is the $250 or whatever sufficient, relative to the cost of basic goods (food, water, shelter, clothing, medicine), for them to live humanely?<br /><br />Then, we have measuring whether their lot is improving, similar to checking whether a child is growing. This is the "absolute" improvement that you wrote about. In working toward a humane life, if such is currently not achieved, then this measure tells us whether we are getting closer (so long as inflation related to the cost of consumer goods is factored in). Otherwise, it just tells us if their lot is improving.<br /><br />The "relative" improvement, however, tells us whether a class is improving at the same rate as another class. I don't find this to be absolutely foolish to consider. This doesn't mean that an increase in the "wealth gap" is wrong by definition, nor does it mean that the poor are getting poorer. It does indicate that the lower class is not growing at the same rate as the upper class. Is this stunted growth? Or is it good that the taller grow taller faster? This is probably worthy of a whole new post. What does the "wealth gap" really indicate, and how does that affect the common good?Triumvir Vishttps://www.blogger.com/profile/17935307134786985856noreply@blogger.com