Evaluating alternatives to GDP as measures of social welfare/progress

authors: Jeroen C. J. M. van den Bergh, Miklós Antal

Proposed alternatives to GDP as a measure of social welfare or human progress are briefly evaluated. Four main categories are considered, namely ISEW and GPI based on corrections of GDP, sustainable or green(ed) GDP, genuine savings/investments and composite indexes. All these alternatives turn out to suffer from various shortcomings. Nevertheless, several of them represent a considerable improvement over GDP information in approximating social welfare. This gives support to the idea that we should not wait to give less importance and attention to GDP (per capita) information in public decision-making until a perfect alternative indicator is available.

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Year of publication:	2014
Authors:	Bergh, Jeroen C. J. M. van den ; Antal, Miklós
Publisher:	Vienna : WWWforEurope
Subject:	Composite indicators \| economic growth \| externalities \| genuine savings \| green GDP \| happiness \| informal sector \| information failure \| ISEW \| status goods \| sustainable income \| Nationaleinkommen \| National income \| Nachhaltige Entwicklung \| Sustainable development \| Wirtschaftswachstum \| Economic growth \| Zufriedenheit \| Satisfaction \| Wirtschaftsindikator \| Economic indicator \| Sparen \| Savings \| Bruttoinlandsprodukt \| Gross domestic product \| Sozialer Indikator \| Social indicator \| Theorie \| Theory \| Messung \| Measurement \| Entwicklungsindikator \| Development indicator \| Informelle Wirtschaft \| Informal economy \| Externer Effekt \| Externalities

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Extent:	Online-Ressource ([1], 12 S.)
Series:	Working paper / WWWforEurope WelfareWealthWork. - Vienna : [Verlag nicht ermittelbar], ZDB-ID 2798217-8. - Vol. 56
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/125713 [Handle]
Classification:	D60 - Welfare Economics. General ; E01 - Measurement and Data on National Income and Product Accounts and Wealth ; O11 - Macroeconomic Analyses of Economic Development
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010430649