strategy

Developing non-economic indicators of human development

Context:
Health, individual well-being, environmental quality, personal and collective security all make contributions to welfare which are not captured by conventional economic statistics. Uneven income distribution and the value of domestic work are not accounted for. Increasing levels of income are consumed only to mitigate rising environmental and social costs, providing no net gain for welfare. Degraded "public goods", such as healthy air, water, and natural surroundings, even the richest cannot buy. These arguments have led to attempts to develop new indicator which better reflect the complexities of measuring sustainable welfare than is possible using measures of crude economic output.
Subjects:
Economic
Development
Type Classification:
D: Detailed strategies