Earlier quoted context omitted.
> even if relative wealth disparities remain constant. Relative wealth disparity increases as absolute wealth increases because below a minimum level of income people starve. IE you can’t make 1/10th the median wage in a subsistence economy long term you just die. But a homeless person can survive for decades in the US on ~500$ a month.
> IE you can’t make 1/10th the median wage in a subsistence economy long term you just die. But a homeless person can survive for decades in the US on ~500$ a month. There are two things I'd like to know more about for this: 1. Is the homeless person doing their survival in an area with a markedly lower median wage than the median wage their income is being measured against? (i.e. is "1/10 the median wage" an illusio…
But the argument still stands if you want to raise the minimum in the US to 1,000$/month to account for hidden value and require shelter. 8 people sharing a 2BR apartment is very much a thing.