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- W2370562544 abstract "One of the problems with contemporary economics is its materialistic bias. At the microeconomic level, output is the desideratum, and that consists of material goods and services. In measuring performance, effiiciency becomes a central goal; for this criterion, inputs, including labor, are treated as bads, and the best outcome is the one that generates the most material output while using the least material input and labor. Everything is valued at market prices, which reflect relative scarcities as they are produced in a strongly materialistic environment. At the macroeconomic level, GNP and related concepts are simply aggregates of the microeconomic categories, or are derived so as to be as nearly consistent with those categories as possible. The most important measure of aggregative performance is GNP per capita, and the connection between this concept and microeconomic efficiency is obvious. Of course the conventional concepts are useful. All of us find many contexts in which not just the available measurements on these concepts, but the concepts themselves express rather well the ideas we wish to promulgate. The real problem is not with the materialistic concepts but with their dominance in economics. They are at their best in ana-" @default.
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- W2370562544 date "1988-09-01" @default.
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- W2370562544 title "LEP: An Alternative Criterion For Socio-Economic Valuation" @default.
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- W2370562544 doi "https://doi.org/10.1080/00213624.1988.11504807" @default.
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