Per Capita Income

AKA: Economic Prosperity.
- …
Counter-Example(s):
- Per Capita GDP.
See: Arithmetic Mean, Income, Gross Domestic Product, Gross National Income.

References

(Wikipedia, 2013) ⇒ http://en.wikipedia.org/wiki/per_capita_income Retrieved:2013-12-26.
- Per capita income, also known as income per person, is the mean income of the people in an economic unit such as a country or city. It is calculated by taking a measure of all sources of income in the aggregate (such as GDP or Gross national income) and dividing it by the total population.

(Acemoglu et al., 2002) ⇒ Daron Acemoglu, Simon Johnson, and James A Robinson. (2002). “Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution.” In: The Quarterly Journal of Economics, 117(4). doi:10.1162/003355302320935025
- Among countries colonized by European powers during the past 500 years, those that were relatively rich in 1500 are now relatively poor. We document this reversal using data on urbanization patterns and population density, which, we argue, proxy for economic prosperity. … By economic prosperity or income per capita in 1500, we do not refer to the economic or social conditions or the welfare of the masses, but to a measure of total production in the economy relative to the number of inhabitants. Although urbanization is likely to have been associated with relatively high output per capita, the majority of urban dwellers lived in poverty and died young because of poor sanitary conditions ...