Tag Archives: Simon Kuznets

The Economist recounts the reasons why the quality of GDP measurement is lacking and why GDP measures cannot answer all the questions they are used to address.

A new book on inequality by Branko Milanovic adopts an international perspective. The Economist reviews the book: Like Mr Piketty, he begins with piles of data assembled over years of research. He sets the trends of different individual countries in a global context. Over the past 30 years the incomes of workers in the middle of the global income distribution—factory workers in China, say—have soared, as has pay for the richest 1% (see chart). At the same time, incomes of the working class...