GDP and its Discontents
- GDP - Definitions, Problems, Self-test
- Problems with GDP as a measure of welfare
- Gross National Happiness
- The Happynomics of Life by Roger Cohen. New York Times, March 13, 2011. David Cameron, the British Prime Minister, plans to introduce a happiness index.
- Does Economic Growth Improve the Human Lot? Some Empirical Evidence by Richard Easterlin, in Paul A. David and Melvin W. Reder, eds. Nations and Households in Economic Growth: Essays in Honor of Moses Abramovitz, NY: Academic Press, 1974.
- The Hippies were Right all Along about Happiness by Andrew Oswald, Financial Times, Jan. 19, 1996. Shorter summary of Easterlin Paradox
- Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox by Betsey Stevenson and Justin Wolfers, Brookings Papers on Economic Activity , Spring 2008.
Criticism of Easterlin's approach.
- Maybe Money Does Buy Happiness After All , David Leonhardt, New York Times, April 16, 2008. on the Stevenson-Wolfers paper.
- Broad measures of Welfare
- GDP Fetishism
by Joseph Stiglitz, The Economists' Voice,(Sept. 2009), Vol. 6, Iss. 8, Article 5. (May require access from a university computer.) A very brief survey of the problems with GDP. A much longer survey is in
Commission on the Measurement of Economic Performance and Social Progress , with Joseph Stiglitz, Amaryta Sen and others. Discussion of the problems with GDP as a measure of welfare
- Beyond GDP? Welfare Across Countries and Time by Charles I. Jones and Peter Klenow. Stanford Working Paper, Sept. 2010. See the slides for a brief summary.
- GDP and Beyond. Measuring Economic Progress and Sustainability by J. Steven Landefeld, Brent R. Moulton, Joel D. Platt, and Shauda M. Villones. Survey of Current Business, April 2010. What the BEA is doing about extending the national accounts.
- There's more to Life than GDP, but how can we measure it? by Jennifer Thomas and Joanne Evans, Economic and Labour Market Review, 4:9(Sept. 2010), UK Office for National Statistics.