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Real National Income

Published online by Cambridge University Press:  26 March 2020

James Sefton  and
Martin Weale
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Extract

What do we mean by a country's real income? There are in fact two different approaches here. One, which we address here, is the question of interpreting the existing definition of income. The other is the widespread view that income ought to measure ‘sustainable consumption’. The origin of the idea that income should be a measure of sustainable consumption can be traced back to Hicks (1939).

Type
Articles
Information
National Institute Economic Review , Volume 155 , February 1996 , pp. 90 - 97
Copyright
Copyright © 1996 National Institute of Economic and Social Research

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References

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