Nevertheless, as a common citizen I believe that issues relating to human development concern us all. Hence, with some trepidation I approach the issue. How do we measure the well being of an individual or group of individuals? It is widely accepted that a uni-dimensional measure of income does not capture the various dimensions of personal welfare or happiness.
The effect of asset price increases are also greatest for people with a bit of leverage against their asset holdings; they tend not to be those with the highest wealth. In the Long Run In the short run, then, the answer is clear. It is the job of macro policy to support growth by encouraging sufficient demand to employ our nation's productive resources.