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from the article:
But ultimately, income is not a question of how many zeroes are in your
bank account, but how much you can buy in goods and services. People
have tried to circumvent this by measuring not just income but
consumption.
and
Our fixation on income inequality (which I am certain will not
disappear under any feasible policies) will obscure the fact that trying
to tax away or regulate those inequalities will give more play to
inequalities that are even less tractable, like social or political
connections.
Source: John Nye, "Real Inequality: Why Things Are Better Than They Seem and Will Almost Surely Get Worse," Mercatus Center, |July 17, 2014
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