You Are What You Spend

Okay, both Adam and I are channeling Tall Paul. Score-keeping FBvians will remember that Glenn Hunter and I had a breakfast last week where Ross Perot Jr. and Dallas Fed economist Michael Cox were the speakers. In yesterday’s New York Times, I caught a piece Cox co-wrote about how the focus on “income inequality” (quotes used intentionally) is a poor measure, and how spending differences are a better metric. Good follow-up that explains what it all means and why income equality bites can be found here.