Measuring Prosperity
The conversation explores the complexities of measuring material prosperity over the last century, highlighting the significant advancements in living standards. Angus discusses the challenges of comparing past and present goods, emphasizing that despite measurement difficulties, there has been undeniable progress. He suggests that over the long run, people today are considerably better off than previous generations, with estimates indicating a growth factor of two to eight times in the last hundred years.In this clip
From this podcast
EconTalk
Angus Deaton on Health, Wealth, and Poverty
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