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Synopsis
The book features a provocative thesis 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.
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About the Author
Marc Fleurbaey is the Robert E. Kuenne Professor of Economics and Humanistic Studies, Professor of Public Affairs and the University Center for Human Values
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Beyond GDP: Measuring Welfare and Assessing Sustainability
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Beyond GDP: Measuring Welfare and Assessing Sustainability
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Oxford University Press, 2013
ISBN 10: 019976719X
ISBN 13: 9780199767199
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Beyond GDP (Hardcover)
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ISBN 10: 019976719X
ISBN 13: 9780199767199
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Hardcover. Condition: new. Hardcover. 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 analternative, 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 thediversity 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 beenpopular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires. 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. This item is printed on demand. Shipping may be from our Sydney, NSW warehouse or from our UK or US warehouse, depending on stock availability. Seller Inventory # 9780199767199
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Beyond GDP : Measuring Welfare and Assessing Sustainability
Published by
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ISBN 10: 019976719X
ISBN 13: 9780199767199
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Hardcover. Condition: new. Hardcover. 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 analternative, 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 thediversity 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 beenpopular (adjusted net savings, ecological footprint), none of them involves the necessary forecasting effort that a proper evaluation of possible futures requires. 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. This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780199767199
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