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steepholm
Feb. 24th, 2012 02:03 pm (UTC)
True - I was simplifying so as to get the point across in a snappy way. But yeah - I've made that same point in the past. One trouble with relative measures is that it means that a drastic reduction in general living standards may actually make it look as if poverty is being eliminated. I suspect that poverty is being eliminated in Greece as I write, even as most people are getting poorer in absolute terms.

On the other hand, I can see why they prefer relative to absolute measures.

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