Recent searches
Search options
I have posted here before on the misleading character of GDP as an indicator of 'economic success', so I very much welcome the Office of National Statistics development of two new measures:
Gross Inclusive Income; and
Net inclusive income.
This will count those things absent from GDP but which can enhance welfare/wellbeing of the population.
How this will relate to the UN Human Development Index is as yet unclear, but a move in the right direction!
They have been looking to do this for some time. The problem has been both finding the resources to undertake it and achieving results of sufficient quality and reliability to be meaningful and useful.
Yes, I've just had a look at th ONS' own account of what they are doing (for a NWByline piece I'm wiring on it), and it certainly looks like a long-running project