I've been trying to conceive of some type of measurement that would be indicative of standard of living. I think I might have it. I've looked at Real GDP Per Capita and in Canada it has pretty much increased from 1960 to 2003. That can be seen here on page 9:


However, I think it's deceptive. If we were to take Real GDP and subtract Total Debt Per Capita, our standard of living has declined dramatically over the last 40 years. Debt Per Capita can be seen on page 2 (Total Net Federal Debt):



Real Standard of Living (RSOL) = (Real GDP per Capita) - (Total Debt per Capita)

RSOL (1960) ~ $11,104 - $500 = $10,604
RSOL (2000) ~ $28,290 - $17,466 = $10,824

I don't have the figures for Total Debt (Federal, Provincial, Municipal, Personal) so I've used only Total Federal Debt.

Anyone have any thoughts on this?