Measuring Development

How to Measure Development ?

1) Gross National Product: The total economic output including earnings from foreign investments + final goods produced by a country´s firms within and outside the country

2) Gross Domestics Product: The total market value of goods and services produced within a country in one year. Includes income, wages, profits and consumption

3) Human Development index; since 1990. Amartya Sen & Meghnad Desai, Mahbud ul Haq
- life expectancy at birth
- average education levels + adults literacy rates
- standard of living GNI/ capita PPP

What it reveals?
* National priorities
* Potential Growth
* Disparities between people

4) Genuine Progress Indicator ( GPI)
* set of 26 indicators including social, environmental and economic factors, used to measure the quality of life

5) Inclusive Wealth Index ( IWI)
* progress, well-being, long-term sustainability

6) Happy Planet index ( HPI)
* life expectancy ( UN D. report)
* experienced wellbeing ( ranking your life on a scale of 0 to 10)
* ecological footprint ( consumption of resources- /capita measure of the amount of land needed to sustain the consumption patterns of a country)