Measuring Higher Economic Value
Grant Year: 2019
Tim Kane will develop a measure of material well-being that captures the improvements in American living standards better than existing income-based measures do. He will field a survey to estimate how much people value goods and services, such as health care, access to clean air and water, and entertainment, that are difficult to capture in measures of economic output or personal income. He will reflect on how widespread access to such goods and services should change views about economic progress and distribution of economic gains. The project’s findings will appear in a series of papers and a publicly available database.
Hoover Institution Domestic Public Policy