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Yup, and that's a whole other kettle of fish. Currently I'm trying to understand what the criticisms are. Slicing and dicing them is my next project.

The basis of the comparisons is one of the  things I want to look at in a little detail. It's pretty widely accepted that GDP is a bad way of comparing economies since it pretty much rewards wasteful and destructive activities.

See Blair's speech today in another diary. He almost explicitly repeats the assumption that an economy with good metrics will be good socially.

by Colman (colman at eurotrib.com) on Thu Jun 23rd, 2005 at 10:40:22 AM EST
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I first became interested in "bad metrics" in a rigorously quantitative way by reading Daly and Cobb, who suggested a fairly elaborate, thought-out alternative to GDP for measuring national well-being.  I think several proposals along these lines have been floated, including  a brief attempt by the King of Nepal to establish a National Happiness Index...

More food for thought from Gar Alperovitz... on the idea that "wealth should benefit the community directly."

The difference between theory and practise in practise ...

by DeAnander (de_at_daclarke_dot_org) on Thu Jun 23rd, 2005 at 12:32:27 PM EST
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