<p><strong>Today's leading economists weigh in with a new "dashboard" of metrics for measuring our economic and social health</strong></p> <p><strong>"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,
Beyond GDP: Measuring What Counts for Economic and Social Performance
β Scribed by Joseph E. Stiglitz, Jean-Paul Fitoussi and Martine Durand
- Publisher
- OECD
- Year
- 2018
- Tongue
- English
- Category
- Library
No coin nor oath required. For personal study only.
β¦ Synopsis
Metrics matter for policy and policy matters for well-being. In this report, the co-chairs of the OECD-hosted High Level Expert Group on the Measurement of Economic Performance and Social Progress, Joseph E. Stiglitz, Jean-Paul Fitoussi and Martine Durand, show how over-reliance on GDP as the yardstick of economic performance misled policy makers who did not see the 2008 crisis coming. When the crisis did hit, concentrating on the wrong indicators meant that governments made inadequate policy choices, with severe and long-lasting consequences for many people. While GDP is the most well-known, and most powerful economic indicator, it canβt tell us everything we need to know about the health of countries and societies. In fact, it canβt even tell us everything we need to know about economic performance. We need to develop dashboards of indicators that reveal who is benefitting from growth, whether that growth is environmentally sustainable, how people feel about their lives, what factors contribute to an individualβs or a countryβs success. This book looks at progress made over the past 10 years in collecting well-being data, and in using them to inform policies. An accompanying volume, For Good Measure: Advancing Research on Well-being Metrics Beyond GDP, presents the latest findings from leading economists and statisticians on selected issues within the broader agenda on defining and measuring well-being
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