Our goal is to analyse the inequality aspects of Human Development Index and to propose a new aggregation function that can adjust it by considering inequality penalisation. We take into account inequality across dimensions and across individuals and three laws of inequality penalisation:...

Across the globe there is growing skepticism about the usefulness of GDP as a measure of national well-being. Consequently, several alternative quality-of-life (QOL) measures were developed which either aim at healing the GDP, complementing it, or replacing it. This chapter portrays some of...