Contributors: Freyling, Vera (The Wuppertal Institute for Climate, Environment and Energy)
Scientific paper contribution: Linking Resource Efficiency to New Measurement of Well-Being
Abstract: The presentation is part of the special session “Resource efficiency Beyond GDP”. Improving resource efficiency generally means maximizing produced value, while minimizing pressures and impacts of economic production. In the GDP-era we wholly consider produced value in quantifying gains of economic activities, in other words, praising the quantities of all produced final and intermediary goods and services in monetary values. In contrast to this, the beyond GDP paradigm offers an opportunity to look at our socio-economic development from the perspective how this production enhances and satisfies human needs, providing economic and social welfare, and eventually improving quality of life. For these purposes, we review options in correcting, replacing and supplementing GDP as an outcome indicator in a resource efficiency (productivity) formula. Taking a step further, we also present a conceptual framework that connects the use of different types of capital to the satisfaction of human needs (welfare) and eventually quality of life and well-being of people.