| ▲ | Retric 6 hours ago | |
> even if relative wealth disparities remain constant. Relative wealth disparity increases as absolute wealth increases because below a minimum level of income people starve. IE you can’t make 1/10th the median wage in a subsistence economy long term you just die. But a homeless person can survive for decades in the US on ~500$ a month. | ||
| ▲ | JumpCrisscross 6 hours ago | parent | next [-] | |
Does this effect have a name? I wonder how you'd adust for it in a modified GINI metric. | ||
| ▲ | thaumasiotes 5 hours ago | parent | prev [-] | |
> IE you can’t make 1/10th the median wage in a subsistence economy long term you just die. But a homeless person can survive for decades in the US on ~500$ a month. There are two things I'd like to know more about for this: 1. Is the homeless person doing their survival in an area with a markedly lower median wage than the median wage their income is being measured against? (i.e. is "1/10 the median wage" an illusion created by including foreign communities in the 'median wage'?) 2. Is the homeless person's low income measured by excluding their income from in-kind handouts ("someone kind bought me a sandwich") and foraging ("I found a pizza in the dumpster")? | ||