In economics and finance, the notion of a wealth effect -- increased consumption based on a perceived increase in wealth -- is well known. Conversely, true wealth increase (measured by income change) is a bit different, as pictured here.
David Cay Johnston's companion article to the true-wealth-increase picture can be read here.
Related information:
Permanent insecurity for the 99 percent.
David Cay Johnston's companion article to the true-wealth-increase picture can be read here.
Related information:
Permanent insecurity for the 99 percent.
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