Reply To: “the New Classical Counter-Revolution: False Path or Illuminating Complement?”

@article{Seidman2007ReplyT,
  title={Reply To: “the New Classical Counter-Revolution: False Path or Illuminating Complement?”},
  author={L. Seidman},
  journal={Eastern Economic Journal},
  year={2007},
  volume={33},
  pages={563-565}
}
  • L. Seidman
  • Published 2007
  • Economics
  • Eastern Economic Journal
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… Expand