Comparing the welfare of growing economies
AbstractEconomies that currently have the same productive capacity may implement different growth rates. This entails that it is insufficient to base international comparisons of welfare solely on current well-being, or introducing the potential for future growth in an arbitrary manner. NNP-based measures trade off current well-being and the potential for future growth in a consistent manner. This paper shows that it matters for NNP-based measures whether different growth rates in different economies are due to different technological opportunities or different social preferences for development. The analysis illustrates the similarity between international comparisons of welfare and interpersonal comparisons of well-being.
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Bibliographic InfoArticle provided by Dalloz in its journal Revue d'économie politique.
Volume (Year): 121 (2011)
Issue (Month): 1 ()
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Web page: http://www.cairn.info/revue-d-economie-politique.htm
Other versions of this item:
- D60 - Microeconomics - - Welfare Economics - - - General
- D90 - Microeconomics - - Intertemporal Choice and Growth - - - General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
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- repec:ksb:journl:v:4:y:2011:i:1:p:32-47 is not listed on IDEAS
- Haradhan Kumar Mohajan, 2011. "The Real Net National Product in Sustainable Development," KASBIT Journal of Management & Social Science, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 89-103, December.
- repec:ksb:journl:v:4:y:2011:i:1:p:89-103 is not listed on IDEAS
- Haradhan Kumar Mohajan, 2011. "The NNP and Sustainability in Open Economy: Highlights on Recent World Economy and on Open Economy of Bangladesh," KASBIT Journal of Management & Social Science, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 32-47, December.
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