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Do traditional measures of economic performance really satisfy the needs of citizens for a better society?

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  • David Floyd

Abstract

Purpose - The purpose of this paper is to present a reasoned critique of traditional measurements of wellbeing in society and offer alternative measurements for the increasingly more global economy of today. Design/methodology/approach - Theories of growth and measurement are analyzed. Findings - Traditional growth measures leave out many important factors which are increasingly more important to citizens including health, education and whether improvements in wellbeing can continue in the longer term. Originality/value - Limitations of the concept of growth with regards to the desires of citizens are highlighted in this paper.

Suggested Citation

  • David Floyd, 2011. "Do traditional measures of economic performance really satisfy the needs of citizens for a better society?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 38(3), pages 218-223, February.
    • Handle: RePEc:eme:ijsepp:v:38:y:2011:i:3:p:218-223
    DOI: 10.1108/03068291111105165
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    References listed on IDEAS

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    1. David Floyd, 2006. "Are Higher Global Interest Rates A Thing Of The Past?," Economia, Societa', e Istituzioni, Dipartimento di Economia e Finanza, LUISS Guido Carli, vol. 0(1).
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