Standard of living and measuring welfare effects

A few posts caught my eye today by bloggers discussing different, but related topics. All of them suggest that the most measurable outcomes are not necessarily the metrics of policy success or failure we should focus on.

Francisco Toro, at his new blog the Campaign for Boring Development, comments on how microfinance may not raise the incomes of participants, but it does have the potential to increase standards of living.

Matt Yglesias, at Slate, slams the media for misinterpreting (willfully?) the CBO report that says the equivalent of more than 2 million full time (equivalent) jobs will disappear as a result of the ACA. The Plum Line says it’s not a “job-killer,” but people might choose to work fewer hours because now they can afford healthcare. Is that really so bad?