Freedom-Based Measurement of Living Standard
This paper contrasts conventional real GDP and price indicators of individual living standard, interpreted as revealing information on individual welfare, with others, that aim at reflecting individual freedom. It is argued that freedom-based indices are easier to use and interpret than traditional real GDPones. Illustrations of the differences between the two classes of indices are provided for international comparisons, as well as for the evaluation of growth and inflation in France.
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- Yongsheng Xu, 2004. "On ranking linear budget sets in terms of freedom of choice," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 22(1), pages 281-289, 02.
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- Candeal, J. C. & Indurain, E., 1995. "Homothetic and weakly homothetic preferences," Journal of Mathematical Economics, Elsevier, vol. 24(2), pages 147-158.
- Sen, Amartya, 1991. "Welfare, preference and freedom," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 15-29, October.