Measuring Individual Economic Well-Being and Social Welfare within the Framework of the System of National Accounts

Measuring Individual Economic Well-Being and Social Welfare within the Framework of the System of National Accounts. Dale W. Jorgenson, March 27, 2015, Paper. "While the agenda of 'beyond GDP' encompasses measurements that lie outside boundaries of the System of National Accounts, key aspects of individual well-being and social welfare can be incorporated into an SNA framework. Jorgenson and Slesnick (1983, 2014) developed the theory and methodology for full implementation of these features. However, for regular statistical production, this may not always be feasible. We identify the simplifying assumptions required to put a less ambitious but empirically more tractable measurement of individual and social welfare in place..."