Missing the picture on how to measure inequality
Re: “Having a richer discussion about inequality,” July 9 Steven Pearlstein column.
Steven Pearlstein, perhaps like the authors of the books he adroitly reviews, misses a critical metric of well-being: personal-income growth compared to cost-of-living growth. Key aspects of a quality life — health care, higher education and housing — have been much more rapidly inflating than incomes for most Americans (those below the top 20 percent).
To preserve quality of life, we must hold down costs of such essentials — essential especially for the households below 50 percent of median income to “improve their lot” through hard work — or increase their income growth, or both. But to focus only on income growth or income levels is to miss half the picture. Christopher Juniper, Indian Hills