The human development index—A new development indicator?

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Abstract
“Development” can be defined and measured in a great variety of ways. The human development index used by the United Nations Development Programme represents an attempt to place the emphasis on human welfare rather than on the progress of the national economy. This index, however, contains a number of conceptual flaws, which are discussed in the following article. The author proposes a modified version of the index to circumvent the problems.

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