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Measures of economic activity and their implications for societal well-being

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  • Blessing Chiripanhura

    (Office for National Statistics)

Abstract

SUMMARYGross Domestic Product (GDP) is the most commonly used measure of a country's economic activity. GDP, however, has limitations as a measure of society's well-being and of people's material living standards. This article presents alternative measures of economic activity that may be more suitable indicators of society's well-being. The article explains how the different measures are calculated and the additional insights they offer.

Suggested Citation

  • Blessing Chiripanhura, 2010. "Measures of economic activity and their implications for societal well-being," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 4(7), pages 56-65, July.
    • Handle: RePEc:pal:ecolmr:v:4:y:2010:i:7:p:56-65
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    Cited by:

    1. Daniel Nepelski & Giuditta de Prato, 2014. "Identifying European Poles of Excellence: The Methodology," JRC Research Reports JRC85356, Joint Research Centre.

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