Economic Well-being and Non-economic Well-being: A Review of the Meaning and Measurement of Poverty

Andrew Sumner

Working Papers from eSocialSciences

Abstract: This paper discusses the measurement of poverty and well-being. A historical overview is given of the last fifty years. This is followed by discussion of three groupings of indicators: those measures based primarily on economic well-being; those based on non-economic well-being and composite indicators. It is argued that the choice of indicator should reflect its purpose and that economic measures are best when quick, rough-and-ready, short run, aggregate inferences are required. In contrast, non-economic measures are better when greater depth on medium- or longer-term trends and/or dis-aggregation are required. [Research Paper No. 2004/30]

Keywords: data; statistics; poverty; well-being (search for similar items in EconPapers)
Date: 2010-12
New Economics Papers: this item is included in nep-hap
Note: Institutional Papers
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