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Beyond Gdp: Which Options To Better Represent Modern Socio-Economic Progress?

Author

Listed:
  • Savatore Puglisi

    (University of Teramo, Teramo, Romania)

  • Ionuț Virgil Șerban

    (University of Teramo, Teramo, Romania / University of Craiova, Craiova, Romania)

Abstract

In recent years, specialists begun to reconsider the representativeness of GDP as an index of overall well-being of society and to recognize its validity only in the initial phases of a country's economic development, when the growth of income and wealth are more correlated to the improvement of people's living conditions. Most economic theories states that with greater wealth and higher income there is a greater possibility of choice and consequently an improvement in the position of the individual. However, as the economic conditions of a country improve and the country moves from a developing economy to a developed one, there is an evolution in the preferences and aspirations of individuals, who now fall into areas that may not always be to be quantified at the monetary level..

Suggested Citation

  • Savatore Puglisi & Ionuț Virgil Șerban, 2019. "Beyond Gdp: Which Options To Better Represent Modern Socio-Economic Progress?," Sociology and Social Work Review, International Society for projects in Education and Research, vol. 3(1), pages 17-32, June.
    • Handle: RePEc:edr:sswrgl:v:3:y:2019:i:1:p:17-32
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    References listed on IDEAS

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    Cited by:

    1. Salvatore Puglisi, 2021. "The “human” factor in the economic crisis: a new view in the rules of financial sector," Sociology and Social Work Review, International Society for projects in Education and Research, vol. 5(2), pages 40-47, December.
    2. Cristina Ilie Goga, 2020. "Is Romania in a social and economic crisis caused by emigration? The new policy of the Romanian state on migration," Sociology and Social Work Review, International Society for projects in Education and Research, vol. 4(1), pages 31-37, June.

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    More about this item

    Keywords

    GDP; well-being; socio-economic progress; quality of life; welfare; global happiness; human development.;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs

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