One in Ten Have No Job. More Have No Security.
July 22, 2010
You may not be familiar with Mollie Orshansky. But you’re probably familiar with her work. Orshansky was a researcher and statistician who joined the Social Security Administration in the late 1950s. One of her jobs was to measure income adequacy and, in the early 1960s, she devised a formula based roughly on three times the price of a basic, nutritionally sufficient diet. It was a crude formula, based on previous research showing that people spent roughly a third of after-tax income on food. But it was good enough.