Productivity Versus Welfare; Or GDP Versus Weitzman's NDP
论证了Weitzman的净国内生产总值（WNDP）比GDP更适合衡量福利，并计算了美国1990年代的数据，发现WNDP在1995年后加速增长与GDP相当。
While GDP is the appropriate measure of output, I argue that Weitzman's NDP (WNDP)—nominal net domestic product deflated by the price of consumption—is the appropriate measure of welfare. Total factor productivity (TFP) growth measures the shift in the GDP frontier, and there is an analogous concept for WNDP, which I call total factor welfare (TFW) growth. I calculate and compare WNDP and GDP, and TFP and TFW, for the United States in the 1990s. I find that the acceleration of WNDP post 1995 was as great as that of GDP, even though the aggregate depreciation rate was rising.