Per capita gross domestic product (GDP) is a poor indicator of economic well-being. It measures effective consumption poorly (ignoring the value of leisure and of longer life spans) and it also ignores the value of accumulation for the benefit of future generations. Since incomes are uncertain...

This paper begins by asking how poverty in affluent countries should be measured, before examining recent evidence on poverty intensity and its social significance. Section 1 advocates use of the Sen-Shorrocks-Thon index of poverty intensity and introduces the 'Poverty Box' as a summary...