Doug Henwood wrote: >> So studies of the effects of >> housing wealth on consumption are looking at an imperfect proxy for >> something, not the thing itself.
Sandwichman wrote: > Isn't also the holding of cash an "imperfect proxy" for something > else, namely the (subjective) "utility" provided by the goods or > services that the money can buy? isn't cash (or other wealth) a _means_ for attaining utility in a market society, rather than a proxy? by the way, at least for rich countries, it turns out that there's a weak link between seeking utility and actually attaining measured "happiness" (subjective well-being). (The latter is measured using polls.) -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
