Journal 1: How useful is Well-Being as a national or economic indicator?

How useful is Well-Being as a national or global economic indicator? This policy brief requires an assessment of Well-Being measure and asses what it offers that traditional national account measures do not? This can be either nationally in the UK, or another country, or global happiness index

Group Members: Tom Dixon, Hamza Shahid, Keiron Westmaas, Jeremy Smyth, Maurizio Gregorio

Focus on global economic indicators. Specifically GDP vs various well-being indicators

Tom

1. Introduction

Keiron

1. HDI
2. FISH
3. income/consumption vs production
4. Why GDP isn’t good at measuring well-being
5. gap between two measures

Jeremy

1. As an indicator of whether to invest
2. measures saleable product of nations
3. Back log of historical data
4. GNP
5. definition of recession

Maurizio and Hamza

1. Recession ‘human recession’ negative growth in two consecutive quarters.
2. Doesn’t account for unpaid labour 
3. Investment in human capital (factor of production)
4. GPI is better
5. ISEW 

Tom 

1. Global happiness index
2. Recommendations
3. Conclusion

Meeting 2nd Feb

Present - Hamza, Tom, Jeremy, Keiron

Meeting 9th Feb

Present - Tom, Jeremy, Keiron