Joanna, you are right. It is a serious defect in the data that little or no attention is given to those costs.
-----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Joanna Sent: Saturday, September 27, 2008 6:25 PM To: [email protected] Subject: Re: [Pen-l] Chase Manhattan late fee "In The Confiscation of Economic Prosperity, I have a short section on fees (and other costs borne almost exclusively by the poor), because such costs do not count when the government measures real income. I think it is an important subject. A former student who works for the BLS tried to interest people there in the question, but without success." It is incredibly expensive to be poor. The whole game is set up so that if you do not have the money up front, you will wind up paying twice, three times the original cost. The only way to beat the game is to gang up -- lots of roommates, private network of savings, etc. Asian immigrants play this trump card. But Americans are so brainwashed about individualism and so paranoid, they try to go it alone.... ....sure recipie for disaster. Joanna _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
