Economic Welfare Measurements and Human Well-Being
AbstractGDP 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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Bibliographic InfoPaper provided by Economics Group, Nuffield College, University of Oxford in its series Oxford University Economic and Social History Series with number _034.
Length: 35 pages
Date of creation: 01 Jan 2000
Date of revision:
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Web page: http://www.nuff.ox.ac.uk/economics/
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