Developing alternative economic indicators
Indicators are needed to address global challenges of the 21st century such as climate change, poverty, resource depletion, health and quality of life. GDP is a traditional economic indicator that is not designed to incorporate social, sustainable development and environmental aspects of progress. With EU funding, the project 'European framework for measuring progress' (E-FRAME) advanced the discussion on measuring people, well-being and societal progress among all relevant stakeholders. It also set up a European network and supported the initiatives of EU Member State statistical authorities in the domain. The project mainly focused on key themes such as sustainable development, subjective well-being, social and human capital, environment and globalisation. It also covered social monitoring and reporting, regional progress assessment, and information and communication technology tools. Work began with the collection and analysis of existing research on well-being, progress and sustainable development. Web platforms, workshops and high-profile conferences were used to develop and strengthen ties with key actors such as civil society organisations, social entrepreneurs, researchers, practitioners and workers. This led to the establishment of an EU-wide network that systematically addressed the key issues in the debate regarding European policies. Communication and dissemination activities kept the GDP debate current through international discussions at workshops and conferences, and the extensive publication of project findings. Recommendations for coordinated action were made to national statistical authorities following an assessment of their existing practices for measuring well-being. Lastly, research needs and gaps in relevant information and methods were identified. A roadmap for future research topics to be addressed at EU level was drawn up that takes into account the principles of Horizon 2020. E-FRAME proposed a way forward for measuring well-being, societal progress and sustainability. The project has built momentum on the GDP debate and gained a wider audience, thus pushing for a timetable on future actions across Europe.
Keywords
Economic indicators, gross domestic product, well-being, societal progress, economic performance
