Problems of measuring living standards properly go way, way, way back, as Lemin Wu demonstrates: Lemin Wu: If Not Malthusian, Then Why?: “The pre-industrial stagnation of living standards… …Technological improvement in luxury production… faster than improvement in subsistence production, would have kept living standards growing…. [There is] a puzzle of balanced growth between the luxury … Continue reading Evening Must-Read: Lemin Wu: If Not Malthusian, Then Why?