[lbo-talk] One optimist's view of the economy

[Mark S]

Doug Henwood wrote:
>
>I can't believe how many times I see this bogus assertion. Wealth is so 
>upwardly skewed that the "average" household produced by dividing the 
>aggregate numbers by the population actually corresponds to someone around 
>the 95th percentile of the wealth distribution. Different people own assets 
>and owe debts. In fact, debtors generally owe their money to the people at 
>the top.
>
I've seen two different economists assert that poor people are basically 
superfluous to the present real growth of the U.S. economy.  Maybe that's 
why real growth is so weak.  The coterie of the rich are doing all of the 
extra spending...

M.

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