Social Indicators

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Abstract
This article was prepared by Helen Owens of the Institute research staff.Until the mid‐1960's it was generally accepted that gross national product provided not only a measure of economic performance but also a useful overall indicator of some aspects of human welfare. The limitations of GNP with respect to most non‐market phenomena were well recognised but the implicit assumption was made that the unmeasured aspects of welfare were positively related to changes in income as recorded in national accounts statistics. However, in the last decade or so, growing recognition of social costs and problems asociated with material advancement has led economists and other social scientists to look for new approaches to the measurement of social ‘progress’.1

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