Since its development in the 1930s, GDP has been the most widely used measure of the health and progress of an economy, being adopted as the principal policy objective of countless national and international bodies across the world. Its many shortcomings as a measure of progress are well documented, and the alternative indicators of progress developed in response to these shortcomings have been diverse and numerous. This paper synthesises the literature, highlighting the importance of context and purpose in determining what makes a ‘good’ indicator.
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