Several devices in designing composite indicators for policy monitoring and benchmarking are discussed: weighting and scaling of variables, hierarchical organization, handling rank-based variables, relief tables, survey simulation techniques which combine normative and empirical data. Some...

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...