How to Converge on a Multiplicity
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.
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