This is a comment on Katharina Lima de Miranda and Dennis Snower’s multidimensional approach for the assessment of human well-being. It applauds the authors for looking “beyond GDP” but urges them to go one step further and replace GDP as a measure of material well-being by growth national income and actual individual consumption. Unlike GDP, these alternative measures for material well-being can be used to single out activities by multinational entities that are largely unrelated to domestic well-being. I will show that multinational entity activities, like the relocation of corporate headquarters and IP assets to Ireland and Luxembourg, have grown in such a substantial way in recent years that they can bias assessments of both material and human well-being.
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Article Commentary| March 12 2021
Why Not Replace GDP?
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Markus Lang; Why Not Replace GDP?. Global Perspectives 1 February 2021; 2 (1): 21364. doi: https://doi.org/10.1525/gp.2021.21364
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