Alternatives to GDP: Beyond Economic Growth

This lecture explores alternatives to GDP, such as the Genuine Progress Indicator (GPI) and the Human Development Index (HDI), which aim to provide a more comprehensive measure of economic welfare and well-being. It delves into the concept of 'capabilities' proposed by Amartya Sen, emphasizing the importance of factors like health, education, and freedom in assessing living standards. The lecture also discusses the limitations of these alternative measures and presents the Happy Planet Index (HPI) as a unique approach to evaluating quality of life by considering ecological sustainability. Various case studies and data visualizations are used to illustrate the application and impact of these alternative indicators.