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Beyond GDP: The Quest for a Measure of Social Welfare. Part I
https://doi.org/10.32609/0042-8736-2012-2-67-93
Abstract
The first part of the paper is devoted to the monetary indicators of social welfare. It is shown which methods of quantitative estimating the aggregate wealth and well-being are available in the modern economic theory apart from the traditional GDP measure. The limitations of the methods are also discussed. The author shows which measures of welfare are adequate in the dynamic context: he considers the problems of intertemporal welfare analysis using the Net National Product (NNP) for the sustainability policy and in the context of concern for well-being of the future generations.
Keywords
GDP alternatives,
NNP,
revealed preferences,
social welfare function,
green accounting,
sustainable development,
equivalent incomes
JEL: I31; E23; E01
About the Author
M. Fleurbaey
National Center for Scientific Research (CNRS); Paris Descartes University
France
France
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Review
For citations:
Fleurbaey M. Beyond GDP: The Quest for a Measure of Social Welfare. Part I. Voprosy Ekonomiki. 2012;(2):67-93. (In Russ.) https://doi.org/10.32609/0042-8736-2012-2-67-93
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