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Comparing the welfare of growing economies

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  • Geir B. Asheim

Abstract

Economies that currently have the same productive capacity may implement different growth rates. This entails that it is insufficient to base international comparisons of welfare solely on current well-being, or introducing the potential for future growth in an arbitrary manner. NNP-based measures trade off current well-being and the potential for future growth in a consistent manner. This paper shows that it matters for NNP-based measures whether different growth rates in different economies are due to different technological opportunities or different social preferences for development. The analysis illustrates the similarity between international comparisons of welfare and interpersonal comparisons of well-being.

Suggested Citation

  • Geir B. Asheim, 2011. "Comparing the welfare of growing economies," Revue d'économie politique, Dalloz, vol. 121(1), pages 59-72.
    • Handle: RePEc:cai:repdal:redp_211_0059
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    Cited by:

    1. Cairns, Robert D. & Martinet, Vincent, 2021. "Growth and long-run sustainability," Environment and Development Economics, Cambridge University Press, vol. 26(4), pages 381-402, August.
    2. Haradhan Kumar Mohajan, 2011. "The Real Net National Product in Sustainable Development," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 89-103, December.
    3. repec:ksb:journl:v:4:y:2011:i:1:p:89-103 is not listed on IDEAS
    4. repec:ksb:journl:v:4:y:2011:i:1:p:32-47 is not listed on IDEAS
    5. Martinet, Vincent & Del Campo, Stellio & Cairns, Robert D., 2022. "Intragenerational inequality aversion and intergenerational equity," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue forthcomi.
    6. Mohajan, Haradhan, 2010. "Green net national product for the sustainability and social welfare," MPRA Paper 50840, University Library of Munich, Germany, revised 18 Feb 2011.
    7. Haradhan Kumar Mohajan, 2011. "The NNP and Sustainability in Open Economy: Highlights on Recent World Economy and on Open Economy of Bangladesh," KASBIT Business Journals (KBJ), Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 32-47, December.
    8. Stavros A. Drakopoulos, 2024. "Value Judgements, Positivism and Utility Comparisons in Economics," Journal of Business Ethics, Springer, vol. 189(3), pages 423-437, January.
    9. Mota, Rui Pedro & Domingos, Tiago, 2013. "Assessment of the theory of comprehensive national accounting with data for Portugal," Ecological Economics, Elsevier, vol. 95(C), pages 188-196.

    More about this item

    JEL classification:

    • D60 - Microeconomics - - Welfare Economics - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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