this post was submitted on 29 Apr 2024
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With respect to formula, one aspect that proves difficult is that as you derive the right number, the right number changes. Since currency is kind of a synthetic mathematical trick we play on ourselves to "do economy", the things being modeled change when we try to force the numbers to be pleasant. Psychology plays a role to potentially make people feel better even with objectively similar circumstances (eg getting a 2% raise along with 2% inflation the person feels like they made some progress despite sitting still.
In any event, I don't have data either, but I just strongly suspect a numerical manipulation of money balances won't suffice and we will have to intervene with things like universal healthcare, housing initiatives, labor regulation, and some means of mitigating the phenomenon of billionaires. Easier said than done, but broadly just thinking we have to mind the details explicitly.