IDEAS home Printed from https://ideas.repec.org/a/taf/nzecpp/v59y2025i1p18-23.html
   My bibliography  Save this article

Keeping your butter safe: groundwork for a new measure of development

Author

Listed:
  • Kaushik Basu

Abstract

The development of a nation is traditionally measured by GDP per capita, with countries classified as low, lower-middle, upper-middle and high income economies. What is overlooked is that some of the goods consumed by people and part of the GDP, such as barbed wires and private police, are not valued in themselves but are protective measures against crime and corruption, to ensure that goods that are valued are safe. This suggests the need to redefine GDP to measure the true value of what a nation consumes and saves. This paper proposes a new measure and spells out its microeconomic foundation.

Suggested Citation

  • Kaushik Basu, 2025. "Keeping your butter safe: groundwork for a new measure of development," New Zealand Economic Papers, Taylor & Francis Journals, vol. 59(1), pages 18-23, January.
    • Handle: RePEc:taf:nzecpp:v:59:y:2025:i:1:p:18-23
    DOI: 10.1080/00779954.2024.2391343
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/00779954.2024.2391343
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/00779954.2024.2391343?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:nzecpp:v:59:y:2025:i:1:p:18-23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://www.tandfonline.com/RNZP20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.