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ERIC Number: ED159085
Record Type: Non-Journal
Publication Date: 1978
Pages: 66
Abstractor: N/A
Reference Count: N/A
Measures of Leisure, Equality and Welfare.
Beckerman, Wilfred
Recently, there has been growing criticism of the usefulness of the conventional measures of gross national product (GNP) to reflect the growth of economic welfare. It is argued that GNP fails to allow for certain measures of economic welfare. The object of this study is to examine how much difference would be made to the relative growth rates of countries if estimates were made for the most important of these items, namely leisure and income distribution. The estimates of measurable economic welfare incorporating the adjustment for changes in leisure were made for 13 developed nations for the period 1950-52 to 1971-73 using the Nordhaus/Tobin method and the Usher method of measuring economic welfare while allowing for changes in leisure. The estimates on income distribution were confined to fewer countries and to shorter time periods. It was found that allowance for income distribution has a negligible impact on measured growth rates and that countries that had relatively high growth rates measured in terms of conventional GNP also had relatively high growth rates in terms of economic welfare adjusted for changes in leisure. The results indicate that GNP is still a reasonably good indicator of relative growth rates of economic welfare. (Author/JK)
OECD Publications Center, Suite 1207, 1750 Pennsylvania Avenue, N.W., Washington, D.C. 20006 ($3.50, paper cover)
Publication Type: Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Organisation for Economic Cooperation and Development, Paris (France).