Spain's Index of Sustainable Economic Welfare. Are welfare and sustainability compatible?

Tadhg O`Mahony

The challenge of sustainability has driven the pursuit of alternative economic indicators, such as the Index of Sustainable Economic Welfare (ISEW). The indicator begins with consumption expenditure, and applies a series of additions and subtractions relevant to welfare and sustainability. This paper reflects on the first ISEW for Spain, comparing it against updated data for other key development indicators. It is demonstrated that decades of economic output growth have provided meagre benefits for the welfare of the average citizen. The uses and limitations of the ISEW are discussed, along with recent progress in the measurement and understanding of welfare, well-being and sustainability.


Article Details

Palabras clave:
welfare, sustainable, Gross Domestic Product, economics, public policy, transformation

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