Do traditional measures of economic performance really satisfy the needs of citizens for a better society?

David Floyd

International Journal of Social Economics, 2011, vol. 38, issue 3, 218-223

Abstract: Purpose - The purpose of this paper is to present a reasoned critique of traditional measurements of wellbeing in society and offer alternative measurements for the increasingly more global economy of today. Design/methodology/approach - Theories of growth and measurement are analyzed. Findings - Traditional growth measures leave out many important factors which are increasingly more important to citizens including health, education and whether improvements in wellbeing can continue in the longer term. Originality/value - Limitations of the concept of growth with regards to the desires of citizens are highlighted in this paper.

Keywords: Performance measures; Citizens; Society; Social systems; Economic growth (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijsepp:v:38:y:2011:i:3:p:218-223

DOI: 10.1108/03068291111105165

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