Jim Devines post, (below) is a good point and I have nothing to
add. However it prompted me to wondering what alternatives to
GDP based methods of *quantifying*, well being are available.
Is anyone familiar with the *recent* literature in this area,
and could they provide a quick guide?
Thanks, Peter Robertson
[EMAIL PROTECTED]
Peter Robertson summarizing Barro & Jong-Wha Lee's research:
"The issue that is likely to raise eyebrows I guess is his claim
that growth is positively related to free markets."
To some extent this is circular: growth is usually measured
(at least by people like Barro) by looking at market output
(GDP) per person and the like. A "free market" country emphasizing
private sector output will do well using success measures
that measure market output such as GDP. (State output tends to
be undermeasured, say by counting the government's contribution
as equal to its payrolls; external costs & benefits are missed
altogether, etc.)
in pen-l solidarity,
Jim Devine
[EMAIL PROTECTED] or [EMAIL PROTECTED]
Econ. Dept., Loyola Marymount Univ., Los Angeles, CA 90045-2699 USA
310/338-2948 (daytime, during workweek); FAX: 310/338-1950
