Report by the Commission on the Measurement of Economic Performance and Social Progress¶
Stiglitz, J. E., Sen, Amartya, & Fitoussi, J. (2009). Report by the Commission on the Measurement of Economic Performance and Social Progress.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Proxy–Target Fidelity
- In economics, indicators are proxies: GDP proxies for welfare, unemployment rate for labor-market health, CPI for cost of living, credit scores for default risk — and the recurring critique (GDP omits leisure, inequality, environmental cost) is a fidelity argument about how far the indicator tracks the underlying good.
This sourceArgues GDP is a limited proxy for welfare, omitting leisure, inequality, and environmental cost.
Supported in partVerified against the work's full text
Supports the GDP-as-imperfect-welfare-proxy critique (market production, leisure, inequality, sustainability); does not cover unemployment, CPI or credit scores as proxies.
“though it has often been treated as if it were a measure of economic well-being... lead to misleading indications about how well-off people are”
- In economics, indicators are proxies: GDP proxies for welfare, unemployment rate for labor-market health, CPI for cost of living, credit scores for default risk — and the recurring critique (GDP omits leisure, inequality, environmental cost) is a fidelity argument about how far the indicator tracks the underlying good.
Domain-specific¶
- McNamara fallacy
- Management and corporate strategy — OKRs, KPI cultures, and executive dashboards, where the standing risk is optimizing the dashboard rather than the business and letting un-dashboard value silently fall off the strategic agenda. Public policy and government performance — GDP standing in for national welfare, performance-based budgeting, and CompStat-style metric regimes; the Stiglitz–Sen–Fitoussi critique of GDP-centered policy is this fallacy applied to a national accounting metric
This sourceThe Commission stating its aim as identifying the limits of GDP as an indicator of economic performance and social progress, and the broader concerns raised about measures based on GDP figures.
Supported in partVerified against a saved copy of the source
“Its aim is to identify the limits of GDP as an indicator of economic performance and social progress, to consider additional information required for the production of a more relevant picture”
- Management and corporate strategy — OKRs, KPI cultures, and executive dashboards, where the standing risk is optimizing the dashboard rather than the business and letting un-dashboard value silently fall off the strategic agenda. Public policy and government performance — GDP standing in for national welfare, performance-based budgeting, and CompStat-style metric regimes; the Stiglitz–Sen–Fitoussi critique of GDP-centered policy is this fallacy applied to a national accounting metric
Verification¶
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