HOUSEHOLDS, GOODS, AND WELL-BEING |
| |
Authors: | Stein Ringen |
| |
Institution: | University of Oxford |
| |
Abstract: | Household economies translate goods into well-being through production, co-operation, and distribution. Between market goods to households and well-being to persons, value is added. Income is a measure of goods, consumption well-being is measured by equivalent income. An absolute interpretation of equivalent income is argued as the value to persons of consumption well-being after household economies. Guidance is suggested on the choice of equivalence scales, and for the measurement of well-being and inequality. |
| |
Keywords: | |
|
|