A much worse problem is the focus on inequality of incomes at a snapshot in time.
A doctor may go much of their life with low income, and make it up in their mid and late career. But a 22 year old doctor isn't what we thing of as "poor".
We need to follow people over time and use other indicators to see how poor they actually are. Consumption might be a much better measure in many ways.
A doctor may go much of their life with low income, and make it up in their mid and late career. But a 22 year old doctor isn't what we thing of as "poor".
We need to follow people over time and use other indicators to see how poor they actually are. Consumption might be a much better measure in many ways.