An Expected-Income Measure of Economic Welfare
Journal of Political Economy
1962
open access
This paper considers some of the shortcomings of an income per I capita measure of and suggests an alternative capitalized value of expected future income per capita. Part I considers briefly some of the variables that a generally acceptable empirical welfare function should include and defines the capital value measure; Part II compares this measure of with the commonly used measure, income per capita; Part III presents and analyzes the results of computations of economic well-being for a number of United States cities, by both measures; Part IV considers some implications of a present value measure for interregional migration.
- DOI
- 10.1086/258663
- Volume
- 70 (4)
- Pages
- 355-367
- Language
- en
- Export
- BibTeX
- Sources
- openalex crossref