 Well-Being in Human Development Framework: Constituents and AggregationChapter 11 in Analytical Issues in Trade, Development and Finance, 2014, pp 187-191 from Springer Abstract: Abstract Welfare economics ignored for its long capability dimension of development and development economics did not pay sufficient attention to the softer side of human progress. This has been made somewhat better in the recent decades. The primary focus of the chapter is to point out that while the whole capability approach concentrates on the individual, numerical presentation has exclusively been made only at an aggregate level and that UNDP approach aggregates social states with respect to each functioning instead of individual beings and doings. The chapter attempts to first specify well-being of an individual through choice of personal utilization function and commodity vector and then to explain valuation of a functioning. However, for a society, all functionings of each individual has to be aggregated. There could be two approaches to aggregate them: one via individual aggregate of functionings and the other via functioning aggregate of individuals. The UNDP follows the second one in its Human Development Report. Keywords: Well-being of an individual; Functioning vector; Functionings; Capabilities (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-81-322-1650-6_11 Ordering information: This item can be ordered from DOI: 10.1007/978-81-322-1650-6_11 Access Statistics for this chapter More chapters in India Studies in Business and Economics from Springer |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.