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Beyond GDPMeasuring Welfare and Assessing Sustainability$
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Marc Fleurbaey and Didier Blanchet

Print publication date: 2013

Print ISBN-13: 9780199767199

Published to Oxford Scholarship Online: May 2013

DOI: 10.1093/acprof:oso/9780199767199.001.0001

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Conclusion

Conclusion

How to Converge on a Multiplicity

Chapter:
(p.237) Conclusion
Source:
Beyond GDP
Author(s):

Marc Fleurbaey

Didier Blanchet

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199767199.003.0008

This chapter ties up the loose threads of the preceding discussions and presents some concluding thoughts. It sketches a preferred solution for a “beyond GDP” or “GDP and beyond” program, which reflects a reasonable compromise between relevance and syncretism: firstly, keep GDP for what it has been built for, that is, the measurement of economic activity; secondly, try to have it completed with a short list of synthetic indicators of current well-being that reflect prevailing philosophical conceptions; thirdly, include in this list equivalent income indicators based on the best estimate of people’s values and preferences about marketed and nonmarketed goods; and, finally, accept the idea of having more than one number to tell whether the current state of affairs is likely to last or not, not forgetting that such indicators can only inform us about probabilities of things turning bad.

Keywords:   sustainability, synthetic indicators, monetary indicators, GDP

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