The purpose of this study is to propose a new economic index, namely, real national income average growth rate (RNIAGR), which measures the performance of economic growth with consideration for income distribution. This study also develops another new economic index, called five-scale real national income average growth rate (FSRNIAGR), which simplifies the calculation of RNIAGR. The merits of these new indexes are discussed to justify their efficacy. This paper also justifies the use of proposed index by showing that this index can actually measure the ordering of social welfare. To highlight the difference between this new index and the traditional ones, this paper compares the index with real economic growth rate using the data of Taiwan. In addition, this paper shows that when the real growth stagnates or even declines, this new index indicates that income distribution deteriorates.

+More

data of taiwan indexes ordering of social welfare real national income average growth rate income distribution deteriorates

Chien Wei Wu,Wei Zhan Hung,.Real National Income Average Growth Rate: A Novel Economic Growth and Social Fair Evaluation Index. 2015 (),.

Chien Wei Wu,Wei Zhan Hung,"Real National Income Average Growth Rate: A Novel Economic Growth and Social Fair Evaluation Index" 2015

Chien Wei Wu,Wei Zhan Hung,"Real National Income Average Growth Rate: A Novel Economic Growth and Social Fair Evaluation Index"