To live decently
The headline in one of our local newspapers was “How much do you need to live decently?” My first question was “What exactly does that mean?” not only because it was a new word for me—décemment—but also because it would seem fairly subjective as far as what could be considered as a reasonable standard of living. Sure enough, a definition was there in the next paragraph, “households have the capacity to participate effectively in social life without the risk of experiencing significant deprivation”. Spoken like a true economist which is not surprising since the study’s author, Pierre Concialdi, does indeed have that title at the l’Institut de Recherches Economiques et Sociales (IRES), just outside of Paris. So, I had to read further.
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