Word: riche
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...FAMILY HAD A RICH HIStory: owners of banks, economic advisers to royalty, Popes and political VIPs. But during the Nazi occupation of France, the Jewish family saw its business all but ruined. As head of the powerful Paris office after World War II, Baron Guy de Rothschild built shiny new headquarters, diversified investments (IBM, oil digs in the Sahara), nurtured political connections and modernized and revived the empire...
...knee as I cook my daughter's dinner. Dog lovers would call it unconditional love. They're wrong. A dog's love comes with a lengthy prenup: vet bills when it gets diarrhea; peroxide baths when it gets skunked; low-carb kibble when it gets old and fat. Through rich and poor, sickness and health, waning affection and growing annoyance, he is my dog, and I am his person. And when he turns his googly-eyed gaze up at me, it's clear that we are at least agreed on this matter...
Americans don't spend much on food largely because we just don't want to. As a society gets richer, its people tend to use their extra income for things like recreation and education, not daily sustenance. This relationship between food and income--as you get rich, you spend proportionately less to eat--has held so strongly over so many generations that economists have given it a name: Engel's law (for Ernst Engel, a 19th century statistician). The foodie revolution that began in the '70s--arugula over iceberg, short ribs over brisket, etc.--has challenged Engel's law among...
...magic works best in a world of dramatic inequalities. Fortunately, that is just the world we are living in. The greater the gap between rich and poor, both domestically and globally, the more a rich person will pay and the less a poor person will require...
...usual objections can be made to all of this: Why should rich people be able to buy their way out of environmental guilt or short fuses with their kids when poor people can't? The usual answer is that the deal doesn't create the inequality and forbidding the deal doesn't reduce it. If you tell a rich person this is one thing he or she cannot buy, you are also telling a poor person that this is one thing he or she cannot sell...