Measuring Welfare beyond Economics

The genuine progress of Hong Kong and Singapore

Business & Finance, Economics, Sustainable Development, Economic Development
Cover of the book Measuring Welfare beyond Economics by Claudio O. Delang, Yi Hang Yu, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Claudio O. Delang, Yi Hang Yu ISBN: 9781135080723
Publisher: Taylor and Francis Publication: June 26, 2015
Imprint: Routledge Language: English
Author: Claudio O. Delang, Yi Hang Yu
ISBN: 9781135080723
Publisher: Taylor and Francis
Publication: June 26, 2015
Imprint: Routledge
Language: English

Dissatisfaction with the Gross Domestic Product (GDP) as an indicator of a country’s development or a population’s wellbeing led to the development of the Genuine Progress Indicator (GPI). The GPI is an aggregate index of over 20 economic, social and environmental indicators, and accounts for both the welfare benefits of economic growth, and the social and environmental costs which accompany that economic growth. The result is better information about the level of welfare or well-being of a country’s population.

This book measures the GPI of Hong Kong and Singapore from 1968 to 2010. It finds that for both countries, economic output (as measured by the GDP) has grown more than welfare (as measured by the GPI), but important differences are also found. In Hong Kong, the GPI has grown for the whole period under consideration, while in Singapore the GPI has stalled from 1993. This is in line with most countries and is explained by the "threshold hypothesis" which states that beyond a certain level of economic development the benefits of further economic growth are outweighed by even higher environmental and social costs. The book argues that the growth of Hong Kong’s GPI is due to its favourable relationship with China and in particular its ability to export low-wage jobs and polluting industries, rather than successful domestic policies. A stalling or shrinking GPI calls for alternative policies than the growth economy promoted by neoclassical economists, and the book explores an alternative model, that of the Steady State Economy (SSE).

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Dissatisfaction with the Gross Domestic Product (GDP) as an indicator of a country’s development or a population’s wellbeing led to the development of the Genuine Progress Indicator (GPI). The GPI is an aggregate index of over 20 economic, social and environmental indicators, and accounts for both the welfare benefits of economic growth, and the social and environmental costs which accompany that economic growth. The result is better information about the level of welfare or well-being of a country’s population.

This book measures the GPI of Hong Kong and Singapore from 1968 to 2010. It finds that for both countries, economic output (as measured by the GDP) has grown more than welfare (as measured by the GPI), but important differences are also found. In Hong Kong, the GPI has grown for the whole period under consideration, while in Singapore the GPI has stalled from 1993. This is in line with most countries and is explained by the "threshold hypothesis" which states that beyond a certain level of economic development the benefits of further economic growth are outweighed by even higher environmental and social costs. The book argues that the growth of Hong Kong’s GPI is due to its favourable relationship with China and in particular its ability to export low-wage jobs and polluting industries, rather than successful domestic policies. A stalling or shrinking GPI calls for alternative policies than the growth economy promoted by neoclassical economists, and the book explores an alternative model, that of the Steady State Economy (SSE).

More books from Taylor and Francis

Cover of the book Representing Shakespeare by Claudio O. Delang, Yi Hang Yu
Cover of the book Racist Victimization by Claudio O. Delang, Yi Hang Yu
Cover of the book Vidyasagar by Claudio O. Delang, Yi Hang Yu
Cover of the book Multilayer Corpus Studies by Claudio O. Delang, Yi Hang Yu
Cover of the book Understanding the Intelligence Cycle by Claudio O. Delang, Yi Hang Yu
Cover of the book Academics Engaging with Student Writing by Claudio O. Delang, Yi Hang Yu
Cover of the book Gender, Planning and Human Rights by Claudio O. Delang, Yi Hang Yu
Cover of the book Managing Customer Service by Claudio O. Delang, Yi Hang Yu
Cover of the book Peasants and Religion by Claudio O. Delang, Yi Hang Yu
Cover of the book Perspectives On Psychology by Claudio O. Delang, Yi Hang Yu
Cover of the book Water Resources and Conflict in the Middle East by Claudio O. Delang, Yi Hang Yu
Cover of the book Popular Politics and British Anti-Slavery by Claudio O. Delang, Yi Hang Yu
Cover of the book Laytime and Demurrage by Claudio O. Delang, Yi Hang Yu
Cover of the book Wittgenstein's Investigations 1-133 by Claudio O. Delang, Yi Hang Yu
Cover of the book Rural Depopulation in England and Wales, 1851-1951 by Claudio O. Delang, Yi Hang Yu
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy