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Author: Tim Jackson
Publisher:
ISBN:
Category : Cost and standard of living
Languages : en
Pages : 68
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Book Description
Author: Tim Jackson
Publisher:
ISBN:
Category : Cost and standard of living
Languages : en
Pages : 68
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Book Description
Author: Marc Fleurbaey
Publisher: Oxford University Press
ISBN: 0199346917
Category : Business & Economics
Languages : en
Pages : 395
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Book Description
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.
Author: Joseph E. Stiglitz
Publisher: The New Press
ISBN: 1620975726
Category : Political Science
Languages : en
Pages : 450
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Book Description
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.
Author: Mr.Marshall B Reinsdorf
Publisher: International Monetary Fund
ISBN: 1513544586
Category : Business & Economics
Languages : en
Pages : 49
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Book Description
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.
Author: Jean-Paul Fitouss
Publisher: ReadHowYouWant.com
ISBN: 1459617797
Category : Business & Economics
Languages : en
Pages : 230
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Book Description
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.
Author: Max Koch
Publisher: Routledge
ISBN: 1317407423
Category : Business & Economics
Languages : en
Pages : 232
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Book Description
Welfare is commonly conceptualized in socio-economic terms of equity, highlighting distributive issues within growing economies. While GDP, income growth and rising material standards of living are normally not questioned as priorities in welfare theories and policy making, there is growing evidence that Western welfare standards are not generalizable to the rest of the planet if environmental concerns, such as resource depletion or climate change, are considered. Sustainability and the Political Economy of Welfare raises the issue of what is required to make welfare societies ecologically sustainable. Consisting of three parts, this book regards the current financial, economic and political crisis in welfare state institutions and addresses methodological, theoretical and wider conceptual issues in integrating sustainability. Furthermore, this text is concerned with the main institutional obstacles to the achievement of sustainable welfare and wellbeing, and how these may feasibly be overcome. How can researchers assist policymakers in promoting synergy between economic, social and environmental policies conducive to globally sustainable welfare systems? Co-authored by a variety of cross-disciplinary contributors, a diversity of research perspectives and methods is reflected in a unique mixture of conceptual chapters, historical analysis of different societal sectors, and case studies of several EU countries, China and the US. This book is well suited for those who are interested in and study welfare, ecological economics and political economy.
Author: Clifford W. Cobb
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
Many critics of mainstream economics have been calling for a new compass to guide national economic policies because the existing one, the GNP, is broken. They propose a 'green national product' which would address the long-term health of the planet and its inhabitants, and focus on sustainability. Toward this end, they propose an Index of Sustainable Economic Welfare (ISEW), which takes into account such elements as adjustments for income distribution, environmental damage, the value of housework, and resource depletion. Experts in the field of economic development present comments and criticisms regarding the creation of the ISEW and its outcome. The book concludes with the authors' direct response to those critical suggestions, culminating with a revised Index of Sustainable Economic Welfare. Contributors: Robert Eisner, Alan H. Young, Carol S. Carson, Robert R. Gottfried, Thomas Michael Power, E.J. Mishan, Jan Tinbergen, Richard D. Lamm, and Hans Diefenbacher. Co-published with the Human Economy Center.
Author: A. Myrick Freeman
Publisher: Resources for the Future
ISBN: 9781891853623
Category : Business & Economics
Languages : en
Pages : 516
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Book Description
Non-market valuation is becoming increasingly accepted as an evaluative tool of economics related to environmental and resource protection. Freeman (economics, Bowdoin College) presents an overview of the literature, introducing the principal methods and techniques of resource valuation. Chapters cover the measurement of welfare changes, revealed and stated preference models, nonuse models, aggregation of values across time, environmental quality as factor input, longevity and health valuation, property value models, hedonic wage models, and recreational uses of natural resource systems. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).
Author: Milena Büchs
Publisher: Springer
ISBN: 3319599038
Category : Political Science
Languages : en
Pages : 153
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Book Description
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.
Author: John Brazier
Publisher: Oxford University Press
ISBN: 0198725922
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
There are not enough resources in health care systems around the world to fund all technically feasible and potentially beneficial health care interventions. Difficult choices have to be made, and economic evaluation offers a systematic and transparent process for informing such choices. A key component of economic evaluation is how to value the benefits of health care in a way that permits comparison between health care interventions, such as through costs per quality-adjusted life years (QALY). Measuring and Valuing Health Benefits for Economic Evaluation examines the measurement and valuation of health benefits, reviews the explosion of theoretical and empirical work in the field, and explores an area of research that continues to be a major source of debate. It addresses the key questions in the field including: the definition of health, the techniques of valuation, who should provide the values, techniques for modelling health state values, the appropriateness of tools in children and vulnerable groups, cross cultural issues, and the problem of choosing the right instrument. This new edition contains updated empirical examples and practical applications, which help to clarify the readers understanding of real world contexts. It features a glossary containing the common terms used by practitioners, and has been updated to cover new measures of health and wellbeing, such as ICECAP, ASCOT and AQOL. It takes into account new research into the social weighting of a QALY, the rising use of ordinal valuation techniques, use of the internet to collect data, and the use of health state utility values in cost effectiveness models. This is an ideal resource for anyone wishing to gain a specialised understanding of health benefit measurement in economic evaluation, especially those working in the fields of health economics, public sector economics, pharmacoeconomics, health services research, public health, and quality of life research.
