Download or read book Beyond GDP written by Marc Fleurbaey and published by Oxford University Press. This book was released on 2013-04-11 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that "greening" GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.
Download or read book Beyond GDP written by Marc Fleurbaey and published by Oxford University Press. This book was released on 2013-04-11 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of recurrent criticism and an impressive production of alternative indicators by scholars and NGOs, GDP remains the central indicator of countries' success. This book revisits the foundations of indicators of social welfare, and critically examines the four main alternatives to GDP that have been proposed: composite indicators, subjective well-being indexes, capabilities (the underlying philosophy of the Human Development Index), and equivalent incomes. Its provocative thesis is that the problem with GDP is not that it uses a monetary metric but that it focuses on a narrow set of aspects of individual lives. It is actually possible to build an alternative, more comprehensive, monetary indicator that takes income as its first benchmark and adds or subtracts corrections that represent the benefit or cost of non-market aspects of individual lives. Such a measure can respect the values and preferences of the people and give as much weight as they do to the non-market dimensions. A further provocative idea is that, in contrast, most of the currently available alternative indicators, including subjective well-being indexes, are not as respectful of people's values because, like GDP, they are too narrow and give specific weights to the various dimensions of life in a more uniform way, without taking account of the diversity of views on life in the population. The popular attraction that such alternative indicators derive from being non-monetary is therefore based on equivocation. Moreover, it is argued in this book that "greening" GDP and relative indicators is not the proper way to incorporate sustainability concerns. Sustainability involves predicting possible future paths, therefore different indicators than those assessing the current situation. While various indicators have been popular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires.
Download or read book Beyond GDP written by Marc Fleurbaey and published by Oxford University Press, USA. This book was released on 2013-05-09 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is GDP a good proxy for social welfare? Building on economic theory, this book confirms that it is not, but also that most alternatives to it share its basic flaw, i.e., a focus on specific aspects of people's lives without sufficiently taking account of people's values and goals. A better approach is possible.
Download or read book For Good Measure written by Joseph E. Stiglitz and published by The New Press. This book was released on 2019-11-19 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's leading economists weigh in with a new "dashboard" of metrics for measuring our economic and social health "What we measure affects what we do. If we focus only on material well-being—on, say, the production of goods, rather than on health, education, and the environment—we become distorted in the same way that these measures are distorted." —Joseph E. Stiglitz A consensus has emerged among key experts that our conventional economic measures are out of sync with how most people live their lives. GDP, they argue, is a poor and outmoded measure of our well-being. The global movement to move beyond GDP has attracted some of the world's leading economists, statisticians, and social thinkers who have worked collectively to articulate new approaches to measuring economic well-being and social progress. In the decade since the 2008 economic crisis, these experts have come together to determine what indicators can actually tell us about people's lives. In the first book of its kind, leading economists from around the world, including Thomas Piketty, Emmanuel Saez, Elizabeth Beasely, Jacob Hacker, François Bourguignon, Nora Lustig, Alan B. Krueger, and Joseph E. Stiglitz, describe a range of fascinating metrics—from economic insecurity and environmental sustainability to inequality of opportunity and levels of trust and resilience—that can be used to supplement the simplistic measure of gross domestic product, providing a far more nuanced and accurate account of societal health and well-being. This groundbreaking volume is sure to provide a major source of ideas and inspiration for one of the most important intellectual movements of our time.
Download or read book Replacing GDP by 2030 written by Rutger Hoekstra and published by Cambridge University Press. This book was released on 2019-05-30 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proposes an new strategy for the beyond-GDP community which aims to replace the economic paradigm centred on Gross Domestic Product (GDP) by 2030.
Download or read book Welfare Measuring social welfare written by Dale Weldeau Jorgenson and published by . This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Assessing Sustainable Development written by Péter Hardi and published by International Institute for Sustainable Development = Institut international du développement durable. This book was released on 1997 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Gross Domestic Problem written by Doctor Lorenzo Fioramonti and published by Zed Books Ltd.. This book was released on 2013-01-17 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gross domestic product is arguably the best-known statistic in the contemporary world, and certainly amongst the most powerful. It drives government policy and sets priorities in a variety of vital social fields - from schooling to healthcare. Yet for perhaps the first time since it was invented in the 1930s, this popular icon of economic growth has come to be regarded by a wide range of people as a 'problem'. After all, does our quality of life really improve when our economy grows 2 or 3 per cent? Can we continue to sacrifice the environment to safeguard a vision of the world based on the illusion of infinite economic growth? Lorenzo Fioramonti takes apart the 'content' of GDP - what it measures, what it doesn't and why - and reveals the powerful political interests that have allowed it to dominate today's economies. In doing so, he demonstrates just how little relevance GDP has to moral principles such as equity, social justice and redistribution, and shows that an alternative is possible, as evinced by the 'de-growth' movement and initiatives such as transition towns. A startling insight into the politics of a number that has come to dominate our everyday lives.
Download or read book Postgrowth and Wellbeing written by Milena Büchs and published by Springer. This book was released on 2017-07-20 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a detailed and critical discussion about how human wellbeing can be maintained and improved in a postgrowth era. It highlights the close links between economic growth, market capitalism, and the welfare state demonstrating that, in many ways, wellbeing outcomes currently depend on the growth paradigm. Here the authors argue that notions of basic human needs deserve greater emphasis in debates on postgrowth because they are more compatible with limits to growth. Drawing on theories of social practices, the book explores structural barriers to transitions to a postgrowth society, and ends with suggestions for policies and institutions that could support wellbeing in the context of postgrowth. This thought-provoking work makes a valuable contribution to debates surrounding climate change, sustainability, welfare states and inequality and will appeal to students and scholars of social policy, sociology, political science, economics, political ecology and human geography.
Download or read book Measuring Welfare beyond Economics written by Claudio O. Delang and published by Routledge. This book was released on 2015-06-26 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dissatisfaction with the Gross Domestic Product (GDP) as an indicator of a country’s development or a population’s wellbeing led to the development of the Genuine Progress Indicator (GPI). The GPI is an aggregate index of over 20 economic, social and environmental indicators, and accounts for both the welfare benefits of economic growth, and the social and environmental costs which accompany that economic growth. The result is better information about the level of welfare or well-being of a country’s population. This book measures the GPI of Hong Kong and Singapore from 1968 to 2010. It finds that for both countries, economic output (as measured by the GDP) has grown more than welfare (as measured by the GPI), but important differences are also found. In Hong Kong, the GPI has grown for the whole period under consideration, while in Singapore the GPI has stalled from 1993. This is in line with most countries and is explained by the "threshold hypothesis" which states that beyond a certain level of economic development the benefits of further economic growth are outweighed by even higher environmental and social costs. The book argues that the growth of Hong Kong’s GPI is due to its favourable relationship with China and in particular its ability to export low-wage jobs and polluting industries, rather than successful domestic policies. A stalling or shrinking GPI calls for alternative policies than the growth economy promoted by neoclassical economists, and the book explores an alternative model, that of the Steady State Economy (SSE).
Download or read book Stakeholder Capitalism written by Klaus Schwab and published by John Wiley & Sons. This book was released on 2021-01-27 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reimagining our global economy so it becomes more sustainable and prosperous for all Our global economic system is broken. But we can replace the current picture of global upheaval, unsustainability, and uncertainty with one of an economy that works for all people, and the planet. First, we must eliminate rising income inequality within societies where productivity and wage growth has slowed. Second, we must reduce the dampening effect of monopoly market power wielded by large corporations on innovation and productivity gains. And finally, the short-sighted exploitation of natural resources that is corroding the environment and affecting the lives of many for the worse must end. The debate over the causes of the broken economy—laissez-faire government, poorly managed globalization, the rise of technology in favor of the few, or yet another reason—is wide open. Stakeholder Capitalism: A Global Economy that Works for Progress, People and Planet argues convincingly that if we don't start with recognizing the true shape of our problems, our current system will continue to fail us. To help us see our challenges more clearly, Schwab—the Founder and Executive Chairman of the World Economic Forum—looks for the real causes of our system's shortcomings, and for solutions in best practices from around the world in places as diverse as China, Denmark, Ethiopia, Germany, Indonesia, New Zealand, and Singapore. And in doing so, Schwab finds emerging examples of new ways of doing things that provide grounds for hope, including: Individual agency: how countries and policies can make a difference against large external forces A clearly defined social contract: agreement on shared values and goals allows government, business, and individuals to produce the most optimal outcomes Planning for future generations: short-sighted presentism harms our shared future, and that of those yet to be born Better measures of economic success: move beyond a myopic focus on GDP to more complete, human-scaled measures of societal flourishing By accurately describing our real situation, Stakeholder Capitalism is able to pinpoint achievable ways to deal with our problems. Chapter by chapter, Professor Schwab shows us that there are ways for everyone at all levels of society to reshape the broken pieces of the global economy and—country by country, company by company, and citizen by citizen—glue them back together in a way that benefits us all.
Download or read book Mismeasuring Our Lives written by Jean-Paul Fitouss and published by ReadHowYouWant.com. This book was released on 2011-04-22 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: In February of 2008, amid the looming global financial crisis, President Nicolas Sarkozy of France asked Nobel Prize-winning economists Joseph Stiglitz and Amartya Sen, along with the distinguished French economist Jean Paul Fitoussi, to establish a commission of leading economists to study whether Gross Domestic Product (GDP) - the most widely used measure of economic activity - is a reliable indicator of economic and social progress. The Commission was given the further task of laying out an agenda for developing better measures. Mismeasuring Our Lives is the result of this major intellectual effort, one with pressing relevance for anyone engaged in assessing how and whether our economy is serving the needs of our society. The authors offer a sweeping assessment of the limits of GDP as a measurement of the well-being of societies - considering, for example, how GDP overlooks economic inequality (with the result that most people can be worse off even though average income is increasing); and does not factor environmental impacts into economic decisions.In place of GDP, Mismeasuring Our Lives introduces a bold new array of concepts, from sustainable measures of economic welfare, to measures of savings and wealth, to a ''green GDP.'' At a time when policymakers worldwide are grappling with unprecedented global financial and environmental issues, here is an essential guide to measuring the things that matter.
Download or read book Measuring Economic Welfare What and How written by Mr.Marshall B Reinsdorf and published by International Monetary Fund. This book was released on 2020-05-18 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Calls for a more people-focused approach to statistics on economic performance, and concerns about inequality, environmental impacts, and effects of digitalization have put welfare at the top of the measurement agenda. This paper argues that economic welfare is a narrower concept than well-being. The new focus implies a need to prioritize filling data gaps involving the economic welfare indicators of the System of National Accounts 2008 (SNA) and improving their quality, including the quality of the consumption price indexes. Development of distributional indicators of income, consumption, and wealth should also be a priority. Definitions and assumptions can have big effects on these indicators and should be documented. Concerns have also arisen over potentially overlooked welfare growth from the emergence of the digital economy. However, the concern that free online platforms are missing from nominal GDP is incorrect. Also, many of the welfare effects of digitalization require complementary indicators, either because they are conceptually outside the boundary of GDP or impossible to quantify without making uncertain assumptions.
Download or read book Measuring Sustainable Economic Welfare written by Hans Messinger and published by . This book was released on 1997 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Stiglitz Report written by Joseph E. Stiglitz and published by The New Press. This book was released on 2010 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fact that the global economy is broken may be widely accepted, but what precisely needs to be fixed has become the subject of enormous controversy. In 2008, the President of the United Nations General Assembly convened an international panel, chaired by Nobel Prize-winning economist Joseph Stiglitz and including 20 leading experts on the international monetary system, to address this crucial issue. This report controversially establishes a bold agenda for policy change, both broad in scope and profound in its ambitions.
Download or read book Health of People Health of Planet and Our Responsibility written by Wael Al-Delaimy and published by Springer Nature. This book was released on 2020-05-13 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book not only describes the challenges of climate disruption, but also presents solutions. The challenges described include air pollution, climate change, extreme weather, and related health impacts that range from heat stress, vector-borne diseases, food and water insecurity and chronic diseases to malnutrition and mental well-being. The influence of humans on climate change has been established through extensive published evidence and reports. However, the connections between climate change, the health of the planet and the impact on human health have not received the same level of attention. Therefore, the global focus on the public health impacts of climate change is a relatively recent area of interest. This focus is timely since scientists have concluded that changes in climate have led to new weather extremes such as floods, storms, heat waves, droughts and fires, in turn leading to more than 600,000 deaths and the displacement of nearly 4 billion people in the last 20 years. Previous work on the health impacts of climate change was limited mostly to epidemiologic approaches and outcomes and focused less on multidisciplinary, multi-faceted collaborations between physical scientists, public health researchers and policy makers. Further, there was little attention paid to faith-based and ethical approaches to the problem. The solutions and actions we explore in this book engage diverse sectors of civil society, faith leadership, and political leadership, all oriented by ethics, advocacy, and policy with a special focus on poor and vulnerable populations. The book highlights areas we think will resonate broadly with the public, faith leaders, researchers and students across disciplines including the humanities, and policy makers.
Download or read book Building a Sustainable and Desirable Economy in Society in Nature written by Peter Victor and published by ANU E Press. This book was released on 2013-12-03 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world has changed dramatically. We no longer live in a world relatively empty of humans and their artifacts. We now live in the “Anthropocene,” era in a full world where humans are dramatically altering our ecological life-support system. Our traditional economic concepts and models were developed in an empty world. If we are to create sustainable prosperity, if we seek “improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities,” we are going to need a new vision of the economy and its relationship to the rest of the world that is better adapted to the new conditions we face. We are going to need an economics that respects planetary boundaries, that recognizes the dependence of human well-being on social relations and fairness, and that recognizes that the ultimate goal is real, sustainable human well-being, not merely growth of material consumption. This new economics recognizes that the economy is embedded in a society and culture that are themselves embedded in an ecological life-support system, and that the economy cannot grow forever on this finite planet. In this report, we discuss the need to focus more directly on the goal of sustainable human well-being rather than merely GDP growth. This includes protecting and restoring nature, achieving social and intergenerational fairness (including poverty alleviation), stabilizing population, and recognizing the significant nonmarket contributions to human well-being from natural and social capital. To do this, we need to develop better measures of progress that go well beyond GDP and begin to measure human well-being and its sustainability more directly.
