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Economic Well-being and British Regions: The Problem with GDP Per Capita

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  • David Harvie
  • Gary Slater
  • Bruce Philp
  • Dan Wheatley

Abstract

Economists and policy-makers often present per capita gross domestic product (GDP) as by far the most significant indicator of economic well-being. Such measures are frequently adopted in making international comparisons, constructing time-series for particular countries and in studies of regional inequality. In this paper we challenge this view using a regional analysis of 2001 data focusing upon differences between London and the south-eastern regions, in comparison to the rest of Great Britain (GB). Initially GDP per capita is decomposed into the demographic and labour-market factors which generate it. Thereafter we broaden the notion of work-time used in productivity measures to include other necessary work-related activity, namely commuting. This leads to us to construct a new indicator which we call social productivity. Our conclusion is that our decomposition and notion of social productivity are both relevant in comparisons of regional well-being; in addition such methods may be used fruitfully in international and historical contexts.

Suggested Citation

  • David Harvie & Gary Slater & Bruce Philp & Dan Wheatley, 2009. "Economic Well-being and British Regions: The Problem with GDP Per Capita," Review of Social Economy, Taylor & Francis Journals, vol. 67(4), pages 483-505.
    • Handle: RePEc:taf:rsocec:v:67:y:2009:i:4:p:483-505
    DOI: 10.1080/00346760802245383
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    References listed on IDEAS

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    1. Bruno Frey & Alois Stutzer, 2014. "Economic Consequences of Mispredicting Utility," Journal of Happiness Studies, Springer, vol. 15(4), pages 937-956, August.
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    Cited by:

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    2. Juan de Lucio & Juan S. Mora-Sanguinetti, 2021. "New dimensions of regulatory complexity and their economic cost. An analysis using text mining," Working Papers 2107, Banco de España.
    3. Christian Balcells, 2022. "Determinants of firm boundaries and organizational performance: an empirical investigation of the Chilean truck market," Journal of Evolutionary Economics, Springer, vol. 32(2), pages 423-461, April.
    4. de Lucio, Juan & Mora-Sanguinetti, Juan S., 2022. "Drafting “better regulation”: The economic cost of regulatory complexity," Journal of Policy Modeling, Elsevier, vol. 44(1), pages 163-183.

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