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Alternative Forms Of Measuring Economic Progress
Although for many decades, it was customary to focus on GDP and other measures of national income, there has been growing interest in developing broad measures of economic well-being. National and international approaches include thBeyond GDPprogramme developed by the European Union, the Better Lives Compendium of Indicators developed by the OECD, as well as many alternative metrics of wellbeing or happiness. One of the earliest attempts to develop such an index at national level was Bhutan's Gross National Happiness Index and there are a now a number of similar projects ongoing around the world, including a project to develop for the UK an assessment of national well-being, commissioned by the Prime Minister David Cameron and led by the Office for National Statistics. GNH The Gross National Happiness (GNH) phrase was initially used as an off-hand remark by the King of Bhutan to indicate his lack of interest in western materialistic style of economic development. The implemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market according to the exchange rate. To compare economies over time inflation can be adjus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurostat
Eurostat ("European Statistical Office"; also DG ESTAT) is a department of the European Commission ( Directorate-General), located in the Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statistical information to the institutions of the European Union (EU) and to promote the harmonisation of statistical methods across its member states and candidates for accession as well as EFTA countries. The organisations in the different countries that cooperate with Eurostat are summarised under the concept of the European Statistical System. Organisation Eurostat operates pursuant to Regulation (EC) No 223/2009. Since the swearing in of the von der Leyen Commission in December 2019, Eurostat is allocated to the portfolio of the European Commissioner for the Economy, Paolo Gentiloni. The Director-General of Eurostat is Mariana Kotzeva, former Deputy Director-General of Eurostat and President of the National Statistical Institute ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bhutan GNH Index
Gross National Happiness, (GNH; ) sometimes called Gross Domestic Happiness (GDH), is a philosophy that guides the government of Bhutan. It includes an index used to measure a population's collective happiness and well-being. The Gross National Happiness Index was instituted as the goal of the government of Bhutan in the Constitution of Bhutan, enacted on 18 July 2008. History The advent and concept of "Gross National Happiness" (GNH) germinated in the mind of Bodhisattva Druk Gyelpo, the 4th King of Bhutan, Jigme Singye Wangchuck, groomed with the evolution of "Gaki Phuensum" (Peace and Prosperity) and the modernization period of Bhutan during the reign of Druk Gyelpo, the 3rd King of Bhutan, Jigme Dorji Wangchuck. The term "Gross National Happiness" as conceptualized by the 4th King of Bhutan, Jigme Singye Wangchuck, in 1972 was declared, "more important than Gross Domestic Product." The concept implies that sustainable development should take a holistic approach towards notion ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Index Of Sustainable Economic Welfare
The Index of Sustainable Economic Welfare (ISEW) is an economic indicator intended to replace the gross domestic product (GDP), which is the main macroeconomic indicator of System of National Accounts (SNA). Rather than simply adding together all expenditures like the GDP, consumer spending is balanced by such factors as income distribution and cost associated with pollution and other unsustainable costs. The calculation excludes defence expenditures and considers a wider range of harmful effects of economic growth. It is similar to the genuine progress indicator (GPI). The Index of Sustainable Economic Welfare (ISEW) is roughly defined by the following formula: ''ISEW'' = ''personal consumption''+ ''public non-defensive expenditures''- ''private defensive expenditures''+ ''capital formation''+ ''services from domestic labour''- ''costs of environmental degradation''- ''depreciation of natural capital'' History GDP is misleading as an indicator or even as a proxy of the welfare ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Human Development Index
The Human Development Index (HDI) is a statistical composite index of life expectancy, Education Index, education (mean years of schooling completed and expected years of schooling upon entering the education system), and per capita income indicators, which is used to rank countries into four tiers of Human development (humanity), human development. A country scores a higher level of HDI when the life expectancy at birth, lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher. It was developed by Pakistani economist Mahbub ul-Haq and was further used to measure a country's development by the United Nations Development Programme (UNDP)'s Human Development Report Office. The 2010 Human Development Report introduced an List of countries by inequality-adjusted Human Development Index, inequality-adjusted Human Development Index (IHDI). While the simple HDI remains useful, it stated that "the IHDI is the actual level of huma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In its early years, it primarily focused on rebuilding Europe. Over time, it focused on providing loans to developing world countries. In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Measuring National Well-being In The UK May 2013
Measurement is the quantification of attributes of an object or event, which can be used to compare with other objects or events. In other words, measurement is a process of determining how large or small a physical quantity is as compared to a basic reference quantity of the same kind. The scope and application of measurement are dependent on the context and discipline. In natural sciences and engineering, measurements do not apply to nominal properties of objects or events, which is consistent with the guidelines of the International Vocabulary of Metrology (VIM) published by the International Bureau of Weights and Measures (BIPM). However, in other fields such as statistics as well as the social and behavioural sciences, measurements can have multiple levels, which would include nominal, ordinal, interval and ratio scales. Measurement is a cornerstone of trade, science, technology and quantitative research in many disciplines. Historically, many measurement systems exist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life In The UK March 2014
Life, also known as biota, refers to matter that has biological processes, such as signaling and self-sustaining processes. It is defined descriptively by the capacity for homeostasis, organisation, metabolism, growth, adaptation, response to stimuli, and reproduction. All life over time eventually reaches a state of death, and none is immortal. Many philosophical definitions of living systems have been proposed, such as self-organizing systems. Viruses in particular make definition difficult as they replicate only in host cells. Life exists all over the Earth in air, water, and soil, with many ecosystems forming the biosphere. Some of these are harsh environments occupied only by extremophiles. Life has been studied since ancient times, with theories such as Empedocles's materialism asserting that it was composed of four eternal elements, and Aristotle's hylomorphism asserting that living things have souls and embody both form and matter. Life originated at least 3.5 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
