Beyond “Jobs” and Tax Base

A government represents the people it governs, thus the only clear measurement for economic success is wealth (median, mean, and quantiles). Are more people becoming wealthier over time? Or are more people becoming poorer over time? An individual’s wealth affects their relationship with all of the economic elements of their lives including safety, infrastructure, well being, education, workforce, commerce, and amenities. Economic Development needs a need goal, new KPIs, and a whole new approach.