Comparing Australias genuine progress to its economic growth performance

Clarke, Matthew and Lawn, Philip 2007, Comparing Australias genuine progress to its economic growth performance, International journal of green economics, vol. 1, no. 3/4, pp. 513-531, doi: 10.1504/IJGE.2007.013075.

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Title Comparing Australias genuine progress to its economic growth performance
Author(s) Clarke, Matthew
Lawn, Philip
Journal name International journal of green economics
Volume number 1
Issue number 3/4
Start page 513
End page 531
Publisher Inderscience Publishers
Place of publication Olney, England
Publication date 2007
ISSN 1744-9928
Keyword(s) Australia
genuine progress indicator
sustainable well-being
green economics
economic growth
economic development
policy implications
Summary Australia has recorded consistently strong levels of economic growth in recent times. Under conventional considerations, the well-being experienced by Australians would also be considered to have increased in equal terms over this period. This is because aggregate standard national accounts have from their inception been assigned as proxy measures of well-being both within the economic literature and public debate. However, this approach fails to consider a number of important economic costs and non-welfaristic impacts on well-being associated with a growing economy. As a result, figures such as Gross Domestic Product (GDP) per capita over-estimate well-being. It is possible to adjust these estimates to overcome these limitations. Within this paper, the sustainable well-being of Australia will be reviewed by estimating a Genuine Progress Indicator (GPI) for the period 1986–2003. Policy implications following from this new analysis will also be discussed.
Language eng
DOI 10.1504/IJGE.2007.013075
Field of Research 140202 Economic Development and Growth
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©2004-2006, Inderscience Enterprises Limited
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