right. correlations are why GXP became a de facto welfare measure. but correlations needn’t be permanent! 1/

it’s still true that across large gaps, qualitative perceptions, other indicators, and gdp-per-cap likely correlate. but Spain is more prosperous than Mississippi! 2/

it’s a measure now useless for fine-grained comparisons or comparisons over long stretches of time (too much change in the costs of the prerequisites of qualitative welfare). /fin