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Do traditional measures of economic performance really satisfy the needs of citizens for a better society?

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Purpose ‐ The purpose of this paper is to present a reasoned critique of traditional measurements of wellbeing in society and offer alternative measurements for the increasingly more global economy of today. Design/methodology/approach ‐ Theories of growth and measurement are analyzed. Findings ‐ Traditional growth measures leave out many important factors which are increasingly more important to citizens including health, education and whether improvements in wellbeing can continue in the longer term. Originality/value ‐ Limitations of the concept of growth with regards to the desires of citizens are highlighted in this paper.
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Keywords: Citizens; Economic growth; Performance measures; Social systems; Society

Document Type: Research Article

Publication date: February 15, 2011

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