The new alternatives to the GDP and associated current macroeconomic indicators

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Summary

This repost intends to provide a state of the art in research on alternative measures to GDP. We specifically focus on synthesizing the most common indices suggested in the recent literature in this area.

The report consists of four chapters. The first includes a brief introduction and a description of both the overall project and the UNIVPM team involved. The second, Behind GDP, defines GDP from its introduction to the recent efforts made in overcoming its drawbacks as a measure of progress and well-being. The following chapter, “Besides and beyond GDP” introduces what are, in our opinion, the most relevant attempts of producing measures that go besides and beyond GDP indicators and proposing a taxonomy to categorize these indicators. The report ends with some recommendations on the desirable properties for indicators of well-being (Chapter Four: “Recommendations and related proposals”).

About

This report is an output of the e-Frame (European Framework for Measuring Progress) project.

e-Frame is a major international project which aims to provide a European framework for the debate over the measure of well-being and progress. The project involves a broad range of activities including conferences and workshops, as well as research and the development of guidelines. It is led by two major European National Statistical Institutes (NSIs), ISTAT (in Italy) and the CBS (in the Netherlands), and includes amongst the partners two other NSIs (the French INSEE and the UK ONS), the OECD, and several universities and civil society organisations. It is funded by the EU FP7 Work Programme.

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Behind, beside and beyond the GDP: alternatives to GDP and to macro-indicators

Authors

Mariateresa Ciommi, Chiara Gigliarano, Francesco Maria Chelli, Mauro Gallegati, Marche Polytechnic University

 

See Also

Beyond GDP
European Network on Measuring Progress
European Framework for Measuring Progress