Beyond GDP: conceptual grounds of quantification. The case of the Index of Economic Well-being (IEWB).

Thiry, Géraldine
(2012) Joint Conference AHE, IIPPE, FAPE : “Political Economy and the Outlook for Capitalism” — Location: Paris (Université Paris 1- Sorbonne) (5.July.2012)

Files

5ThiryIEWB.pdf
  • Closed Access
  • Adobe PDF
  • 616.61 KB
Request a copy

Details

Authors
Abstract
Today, though the need for new indicators of progress is broadly recognized, no consensus has arisen on a successor to GDP. Various – often conflicting – quantification options are observed. On one side, one finds those who want to improve current indicators, by completing or adjusting them without further questioning the system. On the other are those for whom new indicators of progress are liable, if well-designed, to catalyze a transition toward a new model of society, less reliant on growth. Up to now, these axiological issues related to quantification choices, though crucial for "what we measure affects what we do", are scattered among the debates and do not appear clearly to the stakeholders to the debates. Our paper aims therefore to offer a more systematic understanding of the normative impacts of generic quantification choices. To that end, we analyse the Index of Economic Well-Being (IEWB). For each dimension of this composite indicator, the analysis – which intends to be easily transposed to other indicators – sheds light on the variety of implications resulting from its conceptual and methodological apparatus. This concomitantly leads us to question in depth the relevance of some theoretical hypotheses underlying the IEWB and in many other indices to coherently account for economic, social and ecological issues. The paper's conclusion suggests that alternative conceptual frameworks, such as ecological economics and the capability approach, are liable to carry more coherent indicators of progress.
Affiliations

Citations

  • APA
  • Chicago
  • FWB

Thiry, G. (2012). Beyond GDP: conceptual grounds of quantification. The case of the Index of Economic Well-being (IEWB). Joint Conference AHE, IIPPE, FAPE : “Political Economy and the Outlook for Capitalism”, Paris (Université Paris 1- Sorbonne). https://hdl.handle.net/2078.5/46187