Prof. Perry of economics at the school of Management, University of Michigan has an interesting blog on economics called Carpe Diem, which roughly translated means seize the day. In a recent post, he claims "that despite what many people think, our standard of living is higher now than ever before".The evidence he cites is that we’re spending less on food, clothing and shelter than in 1901, and we’re spending less than citizens of "developing countries" like India or China.We [...]
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[Source: The Money Blogs]
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