A Stroll Through the Income Spectrum

American Enterprise, July/August 1996.


The link between income and standard of living used to be simple: People who made more money lived better. They drove a Buick, not a Chevy. They moved from an upstairs flat to a four-bedroom split-level. They fished for muskies in Canada instead of bluegills in the local reservoir. Today, however, it’s not so simple.