Measures of economic activity and their implications for societal well-being
AbstractSUMMARYGross Domestic Product (GDP) is the most commonly used measure of a country's economic activity. GDP, however, has limitations as a measure of society's well-being and of people's material living standards. This article presents alternative measures of economic activity that may be more suitable indicators of society's well-being. The article explains how the different measures are calculated and the additional insights they offer.
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Bibliographic InfoArticle provided by Palgrave Macmillan in its journal Economic & Labour Market Review.
Volume (Year): 4 (2010)
Issue (Month): 7 (July)
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Web page: http://www.palgrave-journals.com/
Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
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