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Single-indicator Economic Development, Composite Indicators - Coggle…
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Composite Indicators
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Happy Planet Index
measures sustainable well-being to ensure a minimal trade-off between development today and in the future
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consists of 4 parts:
- wellbeing
- life expectancy
- inequality of outcomes
- ecological footbrint
implications
pros
- only one that adjusts for unsustainable resources thru the use of ecological footprint
cons
- notions of well-being and happiness are subjective
- incomplete and some indicators are controversial (ecological footprint+wellbeing concepts)