Economic Welfare Measurements and Human Well-Being
GDP 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.
|Date of creation:||01 Jan 2000|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.nuff.ox.ac.uk/economics/|
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