A utilitarian measure of economic growth combines changes in the distribution of income with changes in real income per person to show how much better off people are becoming over time. It is the rate of growth of the dollar value of average utility of income. As such , it is seen differently by...

Frontmatter -- Contents -- Acknowledgements -- 1. Introduction -- Part I: Theory -- 2. Consumption: The Welfare of the Representative Consumer -- 3. Consumption: The Welfare of the Community -- 4. Consumption: The Productive Capacity of the Economy -- 5. Investment -- 6. Depreciation -- 7....