The hottest Substack posts of Second Hand Economist

And their main takeaways
216 implied HN points 02 Nov 22
  1. GDP in democracies accurately reflects economic growth activity
  2. Dictatorships often manipulate GDP to exaggerate economic growth
  3. The Better Life Index is a better measure of well-being than GDP
196 implied HN points 09 Feb 22
  1. Happiness is hard to measure since people have different definitions and memories of what it is.
  2. Use experience sampling or day reconstruction to tackle memory issues in measuring happiness.
  3. Clear definitions, similar analysis categories, and balanced questions can help overcome problems in measuring happiness.
1 HN point 20 Mar 22
  1. GDP was not designed to measure economic well-being, and its use for this purpose has limitations
  2. MEW introduced adjustments to GDP to account for household labor, leisure, and inequality, but still had challenges in valuation
  3. ISEW and GPI attempted to combine welfare and sustainability but faced criticism for merging two distinct concepts in one metric