The Subjectivity Inherent in Objective Measures of Well-Being |
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Authors: | Mariano Torras |
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Affiliation: | (1) Adelphi University, 1 South Avenue, Garden City, NY 11530, USA |
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Abstract: | Claims abound that GDP accounting ignores social and ecological problems and misrepresents social well-being. While GDP growth continues to be a policy priority in most countries, it is at best one objective among many in achieving humanity’s “ultimate purpose.” Yet revisions to the income accounts and alternative well-being indicators are also problematic, since they reinforce the illusion that social and ecological impacts on well-being are objectively measurable. Future policy must not only be informed to a greater extent by qualitative and multi-dimensional assessments, but must recognize that any rank-ordering of society’s ultimate ends cannot but be subjective. |
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Keywords: | Well-being indicators Quality of life Subjectivity Subjective measurements Rationality Commensurability Comparability |
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