HOUSEHOLDS, GOODS, AND WELL-BEING

Household economies translate goods into well-being through production , co-operation, and distribution. Between market goods to households a nd well-being to persons, value is added. Income is a measure of goods , consumption well-being is measured by equivalent income. An absolute interpretation of equivalent income is argued as the value to persons of consumption well-being after household economies. Guidance is sugg ested on the choice of equivalence scales, and for the measurement of well-being and inequality.