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Vanderford-Riley well being schedule
The Vanderford-Riley well-being schedule is an objective measure of well-being used by some economists. It is not objective in the sense of meaning that everyone has the standard of well-being used, but it is objective in the sense that the subjective standard of well-being used in the schedule is measured objectively.
The schedule is as follows:
- Per capita FTE (Full-time equivalents: the number of hours worked per person, an average of 40 per week being 1.0FTE)
- Value of equity in property per person
- Ratio of property owners to non-owners (as defined as no outstanding liens or balance on property)
- Ratio of self-employment to total employment
A more recent development in the schedule has been the inclusion (for the United States of the US Census Meeting Basic needs scale. The ratio of the population meeting those Basic needs defined by the Cenus is now tracked by the Vanderford-Riley schedule.
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