Beyond GDP: The Quest for a Measure of Social Welfare

2009/12/01 by Marc Fleurbaey · 543 citations
Environmental Science · Psychology · Social Sciences · #Computer science #Convergence (economics) #Economics #Happiness #Income, Poverty, and Inequality #Law #Macroeconomics #Market economy #Measure (data warehouse) #Political science #Positive economics #Psychological Well-being and Life Satisfaction #Psychology #Public economics #Social Welfare #Social psychology #Sustainability #Sustainable Development and Environmental Policy #Welfare #Welfare economics

paper · doi:10.1257/jel.47.4.1029

published in Journal of Economic Literature 47(4), 1029-1075 (American Economic Association)

openalex publication_date 2009/12/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/26

Abstract

This paper critically examines the various approaches to the measurement of individual well-being and social welfare that have been considered for the construction of alternatives to GDP. Special attention is devoted to recent developments in the analysis of sustainability, in the study of happiness, in the theory of social choice and fair allocation, and in the capability approach. It is suggested in the conclusion that, although convergence toward a consensual approach is not impossible, for the moment not one but three alternatives to GDP are worth developing. (JEL I31, E23, E01)

Citations

• A Mathematical Theory of Saving
• Subjective well-being: The science of happiness and a proposal for a national index.

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