IDEAS home Printed from
   My bibliography  Save this article

Reply to: ‘The New Classical Counter-Revolution: False Path or Illuminating Complement?’


  • Laurence S. Seidman

    () (University of Delaware)


The picture of economic well-being depends crucially on how it is measured. We introduce a new measure of economic well-being that includes public consumption, income from wealth, and household production. The differences in scope and method between our measure and standard income lead to substantially different findings regarding economic well-being. The average U.S. household appears to be much better off in 2001 relative to 1989 according to our measure in comparison to money income. In contrast to official measures, our measure shows that racial disparity increased. The increase in measured inequality was higher than indicated by the official measures.

Suggested Citation

  • Laurence S. Seidman, 2007. "Reply to: ‘The New Classical Counter-Revolution: False Path or Illuminating Complement?’," Eastern Economic Journal, Eastern Economic Association, vol. 33(4), pages 563-565, Fall.
  • Handle: RePEc:eej:eeconj:v:33:y:2007:i:4:p:563-565

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:33:y:2007:i:4:p:563-565. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.