Household Wealth, Public Consumption, and Economic Well-Being in the United States
Standard official measures of economic well-being are based on money income. The general consensus is that such measures are seriously flawed because they ignore several crucial determinants of well-being. We examine two such determinants-household wealth and public consumption-in the context of the United States. Our findings suggest that the level and distribution of economic well-being is substantially altered when money income is adjusted for wealth or public consumption.
|Date of creation:||19 Sep 2003|
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|Note:||Type of Document - word; prepared on PC; to print on HP/PostScript; pages: 33; figures: included|
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