CDAE 002 Lecture Notes - Lecture 2: Gross Domestic Product, Gross National Income, World Happiness Report
16 Apr 2019
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What is development: better quality of life -> basic needs met, growth, change, opportunity, human rights. From a conventional perspective; economic indicators best characterize development: gross domestic product (gdp, gross national product (gnp, gross national income (gni) Strength of economy indicates strength of development. Income levels and life expectancy are correlated positively. Human development index - united nations: multidimensional development measurement. Countries that rank highly on hdi scale also do with economic indicators. Anything missing? (from hdi: sanitation, crime, gender equality, stable government. Still not comprehensive description of what development is. Argued that world happiness report should be standard: six markers. Income: generosity, trust, freedom, health life expectancy, social support, 2018 -> us is ranked #18. Global inequality: gini index = measurement of income distribution of a country"s residents; range 0-1; de nes rich/ poor gap. What happens if we build in ecological dimensions: happy planet index. Measures what matters: sustainable wellbeing for all.
