Subnode [[@KGBicheno/alternatives-to-gdp-for-measuring-wellbeing]] in node [[alternatives-to-gdp-for-measuring-wellbeing]]
Alternatives to GDP for measuring wellbeing
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Taken from the Economic Society of Australia (ESA) webinar Economic well-being: Is GDP the right measure? held as part of Social Sciences Week.
Note: There is a national account for digital production.
- Satellite National accounts are useful for this.
- Should things we don't usually account for (barter, volunteering, breast-feeding etc) be accounted?
- An index of a suite of different indicators (need judgement over weighting indicators).
Some indicators you could use:
Education/Life Expectancy/Income (equally weighted)
- Versions around development and gender
OECD's Better Life Index
- 11 indicators equally weighted
- website lets you weight things differently
New Economics Foundation's Happy Planet Index:
- HPI = (Life satisfaction x Life expectancy x inequality of outcome) / ecological footprint
ABS Measure of Australia's progress, 2013 - 26 indicators
- Too confusing to promote public discussion
- NZ includes indicators arround the Maori language, Mauri wellbeing, and indicators based on Maori worldview.
- Education/Life Expectancy/Income (equally weighted)