GDP+: Need Universally Accepted Framework for Measuring Wellbeing

Ashish Kumar and Arpit Barman
Additional contact information
Ashish Kumar: Pahle India Foundation
Arpit Barman: Research and Information System for Developing Countries (RIS)

Chapter Chapter 22 in Wellbeing, Values and Lifestyles, 2025, pp 269-283 from Springer

Abstract: Abstract National governments and other relevant stakeholders have realised that GDP, a single indicator, does not measure the overall wellbeing of the people and that the wellbeing must be measured through a defined set of multiple indicators. SDG target 17.19 also advocates for developing measures of progress on sustainable development that compliments GDP. Several formulations and procedures have been advocated by various agencies at global level and at the regional levels though being deficient on many aspects of wellbeing and sustainability. The chapter analyses and compares various multidimensional measures of wellbeing and has recommended for development of a universally accepted framework. G20 being an influential group in shaping global policies should steer the process of development of a framework by setting up a high-level group to represent realities of developing and developed countries to ensure its broad acceptability and adoptability. By moving beyond GDP, this chapter suggests that a more accurate and holistic understanding of wellbeing can be achieved by better capturing the socio-economic resilience of societies.

Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-4730-6_22

Ordering information: This item can be ordered from
http://www.springer.com/9789819747306

DOI: 10.1007/978-981-97-4730-6_22

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().