If you want to compare the wellbeing of people in our society, don’t look income or wealth. Look at consumption. And don’t compare 20-year-olds with 80-year-olds. Compared people of the same age. And don’t overlook 30 different federal entitlement programs which redistribute an enormous amount of income every year. If the analysis is done correctly, there is far less inequality than we have been led to believe.
How to think about Inequality
John C. Goodman is President of the Goodman Institute and Senior Fellow at The Independent Institute. His books include the soon-to-be-published updated edition of Priceless: Curing the Healthcare Crisis, the widely acclaimed A Better Choice: Healthcare Solutions for America, and New Way to Care: Social Protections that Put Families First. The Wall Street Journal and National Journal, among other media, have called him the “Father of Health Savings Accounts.”
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