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| Author: | Stockhammer, E. |
| Title: | The index of sustainable economic welfare (ISEW) as an alternative to GDP in measuring economic welfare. The results of the Austrian (revised) ISEW calculation 1955-1992 |
| Journal: | Ecological Economics
1997 : APR, VOL. 21:1, p. 19-34 |
| Index terms: | WELFARE AUSTRIA MEASUREMENT |
| Language: | eng |
| Abstract: | Although the inadequacy of GDP to measure economic welfare is widely accepted theoretically, it is still used as the key indicator for economic policy. this article's aim, therefore, is to give some empirical evidence to the theoretical critique. Economic welfare, or at least its change over time, is estimated by the index of sustainable economic welfare (ISEW), which takes account of GDP, unpaid household labour, social costs, environmental damage and income distribution. |
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