The HDI is one way to measure wellbeing, but there are many other ways to measure wellbeing. (a) What are the strengths and limitations of the HDI as a measure of wellbeing? (b) Find some alternative measures of non-material wellbeing that we could use alongside the HDI to

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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8 The HDI is one way to measure
wellbeing, but there are many other
ways to measure wellbeing.
(a) What are the strengths and
limitations of the HDI as a measure
of wellbeing?
(b) Find some alternative measures
of non-material wellbeing that we
could use alongside the HDI to
provide a more comprehensive
picture of wellbeing. For each
measure, evaluate the elements used
to construct the measure, and discuss
Transcribed Image Text:8 The HDI is one way to measure wellbeing, but there are many other ways to measure wellbeing. (a) What are the strengths and limitations of the HDI as a measure of wellbeing? (b) Find some alternative measures of non-material wellbeing that we could use alongside the HDI to provide a more comprehensive picture of wellbeing. For each measure, evaluate the elements used to construct the measure, and discuss
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