> The Gini coefficient
Why do I care how much someone else has?
Re:Things Economists Agree On
by aloneinkyoto on Monday November 01, 2010 @04:33AM
(#1855777)
Rich man in a ghetto or rich man among friends. Pick one.
> Rich man in a ghetto or rich man among friends. Pick one.
Rich people don't live in ghettos - that's why ghettos have a very "good" Gini coefficient. (Ghettos would be better off if they did have rich residents.)
I didn't hate rich folks when I lived in a ghetto. Was I doing something wrong?
Genuine progress indicator (GPI)
Index of Sustainable Economic Welfare (ISEW)
Gross national happiness (GNH)
The Gini coefficient
Just to name a few. None of which is perfect, but at least better than the GDP when it comes to actually saying something about the quality and state of an economy.