counter create hit Beyond GDP: Measuring Welfare and Assessing Sustainability - Download Free eBook
Ads Banner
Hot Best Seller

Beyond GDP: Measuring Welfare and Assessing Sustainability

Availability: Ready to download

In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capab In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that greening GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.


Compare
Ads Banner

In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capab In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that greening GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.

30 review for Beyond GDP: Measuring Welfare and Assessing Sustainability

  1. 5 out of 5

    David Mills

  2. 4 out of 5

    Andrew Ringsmuth

  3. 4 out of 5

    Mark Petkov

  4. 5 out of 5

    Sydney

  5. 4 out of 5

    Justin L

  6. 4 out of 5

    Njdar Khalid

  7. 5 out of 5

    Ishak Pavel

  8. 4 out of 5

    -

  9. 5 out of 5

    Joniada

  10. 5 out of 5

    Diana

  11. 4 out of 5

    Muhammad Ali Shahid

  12. 4 out of 5

    Pablo Stafforini

  13. 4 out of 5

    Anusha

  14. 4 out of 5

    Seyha EK

  15. 5 out of 5

    Majda Radova

  16. 5 out of 5

    Brurce Mecca

  17. 4 out of 5

    Terhi

  18. 4 out of 5

    Mara Dubois

  19. 4 out of 5

    Samuel

  20. 4 out of 5

    Eleri

  21. 5 out of 5

    Patrick

  22. 5 out of 5

    Wen Chong

  23. 4 out of 5

    Ieva

  24. 4 out of 5

    SteverJ

  25. 4 out of 5

    Monir

  26. 5 out of 5

    Ken

  27. 4 out of 5

    Tom Calvard

  28. 4 out of 5

    Alejandro Navas

  29. 5 out of 5

    Ignacio

  30. 5 out of 5

    Arnaud Joubay

Add a review

Your email address will not be published. Required fields are marked *

Loading...
We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy.