IDEAS home Printed from https://ideas.repec.org/p/epa/cepapn/2007-02.html

The Vast Majority Income (VMI): A New Measure of Global Inequality

Author

Abstract

GDP per capita and the Human Development Index are acknowledged measures of development, but suffer from that fact that they are averages that conceal wide disparities in the overall population. As a result, it becomes necessary to either supplement these measures with information on distributional inequality or to directly adjust per capita income and other variables for distributional variations. What is needed, therefore, is a direct measure of the standard of living of the vast majority. In the paper on which this policy note is based, we develop a new measure called the Vast Majority Income (VMI).

Suggested Citation

  • Anwar Shaikh & Amr Ragab, 2007. "The Vast Majority Income (VMI): A New Measure of Global Inequality," SCEPA policy note series. 2007-02, Schwartz Center for Economic Policy Analysis (SCEPA), The New School.
    • Handle: RePEc:epa:cepapn:2007-02
    as

    Download full text from publisher

    File URL: https://repec.economicpolicyresearch.org/images/docs/research/inequality_poverty/VMI%20Policy%20Note%20Final.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Brian Nolan, 2020. "The Median Versus Inequality-Adjusted GNI as Core Indicator of ‘Ordinary’ Household Living Standards in Rich Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 150(2), pages 569-585, July.
    2. Peter J. Lambert & Subbu Subramanian, 2015. "Shaikh and Ragab's `Incomes of the Vast Majority': Some additions and extensions," Working Papers 354, ECINEQ, Society for the Study of Economic Inequality.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

    Statistics

    Access and download statistics

    Corrections

    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:epa:cepapn:2007-02. See general information about how to correct material in RePEc.

    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 bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bridget Fisher (email available below). General contact details of provider: https://edirc.repec.org/data/cenewus.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.