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Income: the real and the incomparable
Author(s) -
Tipping David
Publication year - 1999
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/1468-0270.00157
Subject(s) - meaning (existential) , economics , variety (cybernetics) , distribution (mathematics) , goods and services , income distribution , public economics , function (biology) , demographic economics , inequality , economy , mathematics , psychology , mathematical analysis , statistics , evolutionary biology , psychotherapist , biology
The main propositions of this paper are: inter‐temporal and interspatial comparisons lose meaning when the arrays of goods and services being priced are too dissimilar; the composition and pricing of GDP are a function of income distribution; income tends to circulate among persons of broadly similar wealth and culture; a significant part of what is recorded as final household expenditure is intermediate in nature; public expenditure is intrinsically intermediate, and poses a variety of conceptual difficulties. Growth is associated with changes which undermine the validity of its measurement.