Mismeasuring our lives : why GDP doesn't add up ; the report by the Commission on the Measurement of Economic Performance and Social Progress

"In February of 2008, amid the looming global financial crisis, President Nicolas Sarkozy of France asked Nobel Prize–winning economists Joseph Stiglitz and Amartya Sen, along with the distinguished French economist Jean Paul Fitoussi, to establish a commission of leading economists to study whether Gross Domestic Product (GDP)—the most widely used measure of economic activity—is a reliable indicator of economic and social progress. The Commission was given the further task of laying out an agenda for developing better measures. Mismeasuring Our Lives is the result of this major intellectual effort, one with pressing relevance for anyone engaged in assessing how and whether our economy is serving the needs of our society. The authors offer a sweeping assessment of the limits of GDP as a measurement of the well-being of societies—considering, for example, how GDP overlooks economic inequality (with the result that most people can be worse off even though average income is increasing); and does not factor environmental impacts into economic decisions. In place of GDP, Mismeasuring Our Lives introduces a bold new array of concepts, from sustainable measures of economic welfare, to measures of savings and wealth, to a “green GDP.” At a time when policymakers worldwide are grappling with unprecedented global financial and environmental issues, here is an essential guide to measuring the things that matter."--Publisher's description

President Nicolas Sarkozy of France asked Nobel Prize-winning economists Joseph E. Stiglitz and Amartya Sen, along with the distinguished French economist Jean-Paul Fitoussi, to establish a commission of experts to study whether Gross Domestic Product (GDP)-the most widely used measure of economic activity-is really a reliable indicator of economic and social progress.

Mismeasuring Our Lives is the result of this major intellectual effort, containing pressing relevance for anyone engaged is assessing how and whether our economy is serving the needs of our society. The authors offer a sweeping assessment of GDP's limitations as a measurement of the well-being of societies and introduce a bold array of new concepts from sustainable measures of economic welfare to evaluations of savings and wealth and a "green GDP." At a time when policy makers worldwide are grappling with unprecedented global financial and environmental issues, Mismeasuring Our Lives is an essential guide to measuring the things that matter most.

Presentación del editor: "Mismeasuring Our Lives is the result of this major intellectual effort, one with pressing relevance for anyone engaged in assessing how and whether our economy is serving the needs of our society. The authors offer a sweeping assessment of the limits of GDP as a measurement of the well-being of societies-considering, for example, how GDP overlooks economic inequality (with the result that most people can be worse off even though average income is increasing); and does not factor environmental impacts into economic decisions. In place of GDP, Mismeasuring Our Lives introduces a bold new array of concepts, from sustainable measures of economic welfare, to measures of savings and wealth, to a 2green GDP.3 At a time when policy makers worldwide are grappling with unprecedented global financial and environmental issues, here is an essential guide to measuring the things that matter most." In February of 2008, amid the looming global financial crisis, President Nicolas Sarkozy of France asked Nobel Prize–winning economists Joseph Stiglitz and Amartya Sen, along with the distinguished French economist Jean Paul Fitoussi, to establish a commission of leading economists to study whether Gross Domestic Product (GDP)—the most widely used measure of economic activity—is a reliable indicator of economic and social progress. The Commission was given the further task of laying out an agenda for developing better measures.__Mismeasuring Our Lives__In place of GDP,introduces a bold new array of concepts, from sustainable measures of economic welfare, to measures of savings and wealth, to a “green GDP.” At a time when policymakers worldwide are grappling with unprecedented global financial and environmental issues, here is an essential guide to measuring the things that matter. "President Nicolas Sarkozy of France asked Nobel Prize-winning economists Joseph E. Stiglitz and Amartya Sen, along with the distinguished French economist Jean-Paul Fitoussi, to establish a commission of experts to study whether Gross Domestic Product (GDP)-the most widely used measure of economic activity-is really a reliable indicator of economic and social progress."--Publisher's description. CONTENTS -1 OTHER MEMBERS OF THE COMMISSION ON THE MEASUREMENT OF ECONOMIC PERFORMANCE AND SOCIAL PROGRESS AND RAPPORTEURS -1 FOREWORD -1 PREFACE -1 EXECUTIVE SUMMARY 35 1 CLASSICAL GDP ISSUES -1 2 QUALITY OF LIFE -1 3 SUSTAINABLE DEVELOPMENTAND ENVIRONMENT -1 NOTES -1