A Simple Tool for Measuring Economic Well-Being
Religion & Liberty Online

A Simple Tool for Measuring Economic Well-Being

Is the average American better off today economically than they were 4 years ago? What about 40 years ago? How would you go about answering those questions?

In this video economist Alex Tabarrok explains the difference between nominal and real GDP and shows us a simple tool that can help us determine if our economic well-being as a nation is increasing or decreasing.

Joe Carter

Joe Carter is a senior writer for The Gospel Coalition, author of The Life and Faith Field Guide for Parents, the editor of the NIV Lifehacks Bible, and coauthor of How to Argue Like Jesus: Learning Persuasion from History’s Greatest Communicator. He also serves as an associate pastor at McLean Bible Church in Arlington, Va.