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Growth and Well-being: Introducing Distribution-Weighted Growth Rates to Reevaluate U.S. Post-war Economic Performance

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  • Klasen, Stephan

Abstract

In order to improve on the income growth rate as an indicator of changes in well-being, four composite indices of growth and income distribution are introduced and compared. When applied to the United States postwar economic performance, these indicators significantly revise upward the welfare improvements during the 1960s, while for the 1980s they show little expansion and, for some measures, even reductions of well-being. The revisions implied by these conceptually different measures are very similar indicating that the results presented are considerably robust. Copyright 1994 by The International Association for Research in Income and Wealth.

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Bibliographic Info

Article provided by International Association for Research in Income and Wealth in its journal Review of Income & Wealth.

Volume (Year): 40 (1994)
Issue (Month): 3 (September)
Pages: 251-72

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Handle: RePEc:bla:revinw:v:40:y:1994:i:3:p:251-72

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Cited by:
  1. Mariano Torras, 2008. "The Subjectivity Inherent in Objective Measures of Well-Being," Journal of Happiness Studies, Springer, vol. 9(4), pages 475-487, December.
  2. Francisco Ferreira, 2010. "Distributions in motion: Economic growth, inequality, and poverty dynamics," Working Papers 183, ECINEQ, Society for the Study of Economic Inequality.
  3. Scott, Susan & Nolan, Brian & Fahey, Tony, 1996. "Formulating Environmental and Social Indicators for Sustainable Development," Research Series, Economic and Social Research Institute (ESRI), number PRS27.
  4. Stymne, Susanna & Jackson, Tim, 2000. "Intra-generational equity and sustainable welfare: a time series analysis for the UK and Sweden," Ecological Economics, Elsevier, vol. 33(2), pages 219-236, May.
  5. Gruen, Carola & Klasen, Stephan, 2012. "Has transition improved well-being?," Economic Systems, Elsevier, vol. 36(1), pages 11-30.
  6. Kakwani, Nanak & Neri, Marcelo CĂ´rtes & Son, Hyun H., 2010. "Linkages Between Pro-Poor Growth, Social Programs and Labor Market: The Recent Brazilian Experience," World Development, Elsevier, vol. 38(6), pages 881-894, June.
  7. Kakwani, Nanak & Neri, Marcelo & Son, Hyun H., 2009. "Linkages between Pro-Poor Growth, Social Programmes and Labour Market: The Recent Brazilian Experience," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).

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