The Concept of Human Development Index

Cristina Balaceanu and Diana Apostol ()

Romanian Statistical Review Supplement, 2012, vol. 60, issue 1, 111-116

Abstract: The transition from the aggregate indicator reflecting the economic value of goods produced by an economy over a specified period of time, to sustain aggregate demand (GDP), feebly covering the individual’s socio-economic and environmental needs, to the aggregate indicator that also reflects non-quantifiable aspects, such as individual's total satisfaction generated by the coverage of human needs , in addition to quantifiable aspects, under the form of revenue obtained through the use of production factors, out of the aggregate Gross National Income (GNI) used to the assess national welfare and implicitly the living standard.

Keywords: national welfare; Gross Domestic Product (GDP); Gross National Income (GNI); Human Development Index (HDI) (search for similar items in EconPapers)
Date: 2012
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