AE4 Research tracker<\/p>\n
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Assess the importance of GDP in measuring a selected country\u2019s economic wellbeing<\/p>\n
Full APA reference Source type Date accessed<\/p>\n
Joseph E. Stiglitz. (2020\uff0cAugust 1). GDP Is the Wrong Tool for Measuring What Matters. https:\/\/www.scientificamerican.com\/article\/gdp-is-the-wrong-tool-for-measuring-what-matters\/ Online publication\/news article 20.08.2021<\/p>\n
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The article takes a negative tone on the use of GDP as a measure of public welfare and goes ahead to dissect the reasons why its use should be stopped or improved to include other indicators beyond market activities. <\/p>\n
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A very useful source in understand what GDP is and how it is used as a measure of economic and societal welfare all over the world. <\/p>\n
The article is also very relevant to the study questions as it highlights the use of GDP and provides an insight into why it should be improved or supplemented to ensure that total welfare of a society is well captured.<\/p>\n
Full APA reference Source type Date accessed<\/p>\n
Aitken, A. (2019). Measuring welfare beyond GDP.\u00a0National Institute economic review,\u00a0249, R3-R16. https:\/\/doi.org\/10.1177\/002795011924900110Journal Article 20.08.2021<\/p>\n
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The article provides a very detailed review of GDP as a measure of economic welfare, asserting how it is misused in that regard. It sheds light on the proper use of GDP and why it should not be used without the inclusion of other critical indicators that reflect overall progress of a society.<\/p>\n
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The style used to present the article is very difficult to follow. However, the explanation and discussions are very rich and informative. The content is relevant and up to date and will be critical in providing a starting point to answer the research question.<\/p>\n
Full APA reference Source type Date accessed<\/p>\n
Kenny, D. C., Costanza, R., Dowsley, T., Jackson, N., Josol, J., Kubiszewski, I., … & Thompson, J. (2019). Australia’s genuine progress indicator revisited (1962\u20132013).\u00a0Ecological Economics,\u00a0158, 1-10 https:\/\/doi.org\/10.1016\/j.ecolecon.2018.11.025\u00a0Journal Article 20.08.2021<\/p>\n
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The authors look at how Australia has continued to measure progress and wellbeing from the mid-20th century up to 2013. It then proceeds to attempt to provide a genuine progress indicator by combining other measures to supplement the use of GDP. It mentions the long term use of Measures of Australia’s Progress (MAP) in Australia including a collection of alternative indicators. It then discusses the GDP and its pros and cons in measuring public welfare.<\/p>\n
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This article not only discusses the importance of GDP as an indicator of progress and wellbeing in Australia but also looks at alternatives including the inclusion of ecological factors and other relevant concepts.<\/p>\n
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