The impending crisis : $b conditions resulting from the concentration of wealth in the United StatesBouroff, Basil A.
History
The impending crisis : $b conditions resulting from the concentration of wealth in the United States
Bouroff, Basil A.
Trusts, Industrial; United States -- Economic conditions; Wealth
It is certainly not difficult to misrepresent the whole situation even
without intending to do any wrong to the nation. For the right or the
wrong representation of realities [SN: COULD BE MADE UNINTENTIONALLY.]
depends very greatly upon the handling of the averages in the
distribution of wealth among the people. The census facts or the
assessors’ returns may be right, as well as the classifications of these
facts or returns. And yet the final representations of them may be
twisted, either according to the desire of the statisticians or
according to the abstract rules of arithmetic. So that these rules and
desires may be satisfied, but the realities may easily be obscured, and
even the greatest national dangers may be concealed under an improper
use of the averages.
Thus, we have seen the average of Mr. Shearman, which, including some of
the well-to-do families among millions of the poor, makes these poor
appear as if every [SN: OR WITH A BIAS OF WILL.] one of them possessed
$209, because Mr. Shearman’s average covered nearly 56-millions of
individuals.[36] While Mr. Carroll D. Wright,[37] describing the
problem: “Are the rich growing richer and the poor poorer?” makes a
single average on the basis of the entire population. His sweeping
average actually and correctly makes, not only the 56-millions of the
poor of Mr. Shearman, but every pauper, every tramp, and everyone in
hundreds of the lunatic and other asylums, worth $1,036 of wealth.
Whereas, in reality, 1 per cent of the population held more wealth than
the remaining 99, as Dr. Chas. Spahr has proved.[38]
Now, something similar has taken place in the 3d group of the 2d table,
where more than 3-million families are represented as the “owners of
free farms and [SN: A DEGREE OF MODERATION.] homes worth less than
$5,000.” And, consequently, the difference between the 1st table and the
2d table in the wealthy groups appeared. The 2d table contradicts nearly
all statistical authorities and has been spoken of as based upon
extremely moderate conclusions. It is, therefore, necessary to show the
degree of moderation implied in its distribution of wealth.
The fact that all families in the United States [SN: FIRM BASIS OF
CLASSIFICATION.] were classified according to their economic worth, as
families worth $5,000 and over and $5,000 and under, gives us the best
basis for a comparison of the two contradictory tables of the great
authorities.
Let us first see the inconsistency in the groups of families which
represent the middle classes in the two tables.
Public-domain text, read in full here on John Shaqi.
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