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It sure doesn’t seem to be reflected in how people live. Is this just using the wrong measure for “poorer”?
by mikeash 8y ago
It sure doesn’t seem to be reflected in how people live. Is this just using the wrong measure for “poorer”?
- CoryG89 8y agoUniversal debt is a hell of a drug.
- dragonwriter 8y agoYes, GDP per capita is a measure of aggregate output relevant to population, not wealth (which is a stock and not a flow) and not living standards (which are a flow, but not the same flow). Even with PPP adjustment it doesn't measure common living standards, because it doesn't distinguish between broad and narrow distribution. Median income measures are better for standard of living comparisons.