The value of prosperity

“Making the world richer” seems like a useful abstraction for thinking about impact; I’m quite interested in understanding how valuable making the world richer actually is.

For concreteness and simplicity, I want to think about an across-the-board change, where everyone’s real income increases by 1% (due to some exogenous increase in supply, improvements in efficiency, or whatever). Of course no intervention would have such a simple effect. But nevertheless it seems like a good starting point for similar analyses. Read the rest of this entry »