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Estimating an Ethical Index of Human Wellbeing

Author

Listed:
  • Masudul Alam Choudhury
  • Mohammad Zakir Hossain
  • Mohammad Shahadat Hossain

    (Sultan Qaboos University, Oman
    Chittagong University, Bangladesh)

Abstract

A theory of strongly endogenous interactive relationship in participatory development is expounded through the use of a class of models of complementarities between selected variables representing their underlying agencies. Such a model is referred to as circular causation approach and resembles the social causation theory propounded by Gunnar Myrdal. The paper sets up the theoretical groundwork of circular causation in the context of development sustainability by virtue of estimating and simulating quantitative policy-theoretic approach that is applied to the exemplary problem of population and economic growth contra the neoclassical stand on their marginal substitution in population versus growth paradigm. Thus out of studying the theoretical and quantitative policy-theoretic perspective of the learning type endogenous model of development participation between variables and their agencies the ethical index is established. The participatory process of inter-variable complementarities between the selected variables conveys the substantive idea of development sustainability. The resulting functional objective criterion then represents the human wellbeing index. Several of the neoclassical theories as of the immserization theory of economic growth principally are critically examined.

Suggested Citation

  • Masudul Alam Choudhury & Mohammad Zakir Hossain & Mohammad Shahadat Hossain, 2011. "Estimating an Ethical Index of Human Wellbeing," Journal of Developing Areas, Tennessee State University, College of Business, vol. 45(1), pages 375-409, July-Dece.
    • Handle: RePEc:jda:journl:vol.45:year:2011:issues1:pp:375-409
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    economic growth; endogenous growth theory; wellbeing and circular causation simulation;
    All these keywords.

    JEL classification:

    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General

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