Economic Welfare Measurements and Human Well-Being.
GDP per head is not only an economic indicator, but is widely used as a welfare indicator. This use not well founded in economic theory. The paper compares income per head with a three groups of alternative indicators: 'extended national accounts', social indicators, and indicators of subj...
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| Formato: | Working paper |
| Idioma: | English |
| Publicado: |
Nuffield College (University of Oxford)
2000
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| Summary: | GDP per head is not only an economic indicator, but is widely used as a welfare indicator. This use not well founded in economic theory. The paper compares income per head with a three groups of alternative indicators: 'extended national accounts', social indicators, and indicators of subjective well-being. All of these methods indicate a decline in the welfare productivity of GDP goods over time. |
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