Yes, consumption (ideally including the value of public services in the relevant locale) is normally a much more appropriate metric than net worth.
Net worth might be reasonable to use if we could properly account for the value of human capital, but that seems very difficult.
Appropriate metric of what? It is a measure of how many resources can be taken away from someone that year.
But it is not of where the 1/3rd of GDP that goes as returns to capital is being paid, which is the topic of this post.
Agree with that. I should have been clear that I think your post is one of the cases where looking at wealth works pretty well.
Yes, consumption (ideally including the value of public services in the relevant locale) is normally a much more appropriate metric than net worth.
Net worth might be reasonable to use if we could properly account for the value of human capital, but that seems very difficult.
Appropriate metric of what? It is a measure of how many resources can be taken away from someone that year.
But it is not of where the 1/3rd of GDP that goes as returns to capital is being paid, which is the topic of this post.
Agree with that. I should have been clear that I think your post is one of the cases where looking at wealth works pretty well.