Thorvaldur Gylfason, 22 August 2016

One-dimensional indicators such as GNI per capita are known to be flawed measures of wellbeing. The Human Development Index (HDI) introduced dimensions of health and education alongside income. This column argues that an HDI adjusted for inequality and hours worked gives deeper insight into a country's economic standing. Using this composite measure, the US falls from first to seventh among G8 countries.

Martin Ravallion, 14 October 2010

Policymakers and commentators are constantly looking for new ways to measure development. This column warns against embracing new composite indices with little guidance from economic or other theories. It provides a critical overview of the strengths and weaknesses of using such “mashup” indices of development.

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