The Vast Majority Income (VMI): A New Measure of Global Inequality

Anwar Shaikh () and Amr Ragab

No 2007-02, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: GDP per capita and the Human Development Index are acknowledged measures of development, but suffer from that fact that they are averages that conceal wide disparities in the overall population. As a result, it becomes necessary to either supplement these measures with information on distributional inequality or to directly adjust per capita income and other variables for distributional variations. What is needed, therefore, is a direct measure of the standard of living of the vast majority. In the paper on which this policy note is based, we develop a new measure called the Vast Majority Income (VMI).

Keywords: Development; Millenium; Foreign Aid; Inequality (search for similar items in EconPapers)
JEL-codes: D63 E21 H2 H30 (search for similar items in EconPapers)
Pages: 2 pages
Date: 2007-11
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Citations: View citations in EconPapers (2)

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Working Paper: The Vast Majority Income (VMI): A New Measure of Global Inequality (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapn:2007-02

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