Economic Welfare Measurements and Human Well-being

Avner Offer

in The Economic Future in Historical Perspective

Published by British Academy

Published in print February 2006 | ISBN: 9780197263471
Published online February 2012 | e-ISBN: 9780191734786 | DOI:

Series: British Academy Centenary Monographs

Economic Welfare Measurements and Human Well-being

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This chapter focuses on alternative ways of measuring social welfare. These alternative measurements follow three approaches. The first involves extending the national accounts to incorporate non-market goods and services and to eliminate detrimental components. A second approach identifies social norms and evaluates their satisfaction through social indicators. The third approach involves the use of psychological indicators and attempts to reach directly into the experience of welfare using surveys of subjected well-being and research on the dynamics of hedonic experience.

Keywords: social welfare; social norms; social indicators; psychological indicators; hedonic experience

Chapter.  9853 words.  Illustrated.

Subjects: Economic History

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