The paper presents a model of social and economic development which relaxes some of the assumptions made in existing papers on the determinants of growth. In particular, the model allows for multidirectional causality between social and economic indicators. The model indicates that there are...

Proposed alternatives to GDP as a measure of social welfare or human progress are briefly evaluated. Four main categories are considered, namely ISEW and GPI based on corrections of GDP, sustainable or green(ed) GDP, genuine savings/investments and composite indexes. All these alternatives turn...

"The aim of this short book is to understand which countries do well on key indicators and why. After a short philosophical and historical survey of the literature to put the book into context, the Better-Place Index is developed. This is subsequently tested against a number of policy variables,...

Political scientists and economists increasingly agree that institutions may influence economic growth, but there is little general agreement on what institutions tend to produce what consequences. We apply public choice insights for a theoretical analysis that may be termed “Madisonian”:...