PSY 145 Chapter Notes - Chapter 5: Psych
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Human development index birth: any measurement that values a weapon several hundred times more than a bottle of milk is bound to raise serious questions about its importance for human growth. This is no wonder, then, that since the introduction of national income accounts there has been a considerable frustration with gross national product as a measure of human wellbeing. Those prices secretly record the system"s dominant economic and purchasing power but they"re quiet about the distribution, character, or output of economic development. Gnp also leaves out all non-monetary homework jobs, subsistence farming, unpaid services. Second, some analysts came up with hundreds of economic and social metrics but neglected to incorporate them into a composite index and it was difficult for policymakers to digest those measures. Second, some composite measures lacked a sound scientific basis after brief trials, and were abandoned.
