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The Economic Future in Historical Perspective$
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Paul A. David and Mark Thomas

Print publication date: 2006

Print ISBN-13: 9780197263471

Published to British Academy Scholarship Online: January 2012

DOI: 10.5871/bacad/9780197263471.001.0001

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Economic Welfare Measurements and Human Well-being

Economic Welfare Measurements and Human Well-being

(p.371) 12. Economic Welfare Measurements and Human Well-being
The Economic Future in Historical Perspective

Avner Offer

British Academy

This chapter focuses on alternative ways of measuring social welfare. These alternative measurements follow three approaches. The first involves extending the national accounts to incorporate non-market goods and services and to eliminate detrimental components. A second approach identifies social norms and evaluates their satisfaction through social indicators. The third approach involves the use of psychological indicators and attempts to reach directly into the experience of welfare using surveys of subjected well-being and research on the dynamics of hedonic experience.

Keywords:   social welfare, social norms, social indicators, psychological indicators, hedonic experience

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