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1. 1. Measuring Welfare: An Alternative to GDP

   University essay from Handelshögskolan i Stockholm/Institutionen för nationalekonomi

   Author : Birgit Altmann; [2013]
   Keywords : welfare; well-being; living standards; alternative welfare measurement; GDP;

   Abstract : GDP per capita is generally used to compare welfare across countries and time. However, it faces significant limitations in serving as an appropriate welfare measure. Amongst others, GDP does not account for the distribution of wealth and omits important well-being determinants such as quantity and quality of life. READ MORE