Development Economics (L2).pptVIP

Development Economics (L2) Mozaffar Qizilbash Measurement of Human Well-Being and Development Just as some argued that development was not synonymous with growth, some argued that per capita income was not a good measure of (average) well-being; There were two forms of response: (1) to adjust GDP e.g. Nordhaus and Tobin (1972); Sen (1976). (2) ‘direct’ measurement, e.g. Morris’s Physical Quality of Life Index (PQLI). HDI (1) The Human Development Index (HDI) is a revival of the second tradition, but includes income. It was conceived as an unweighted average of three ‘choices’ or ‘capabilitie