Measuring what matters: Improving the indicators of economic performance

Article

Over recent years there has been increasing concern among economists and statisticians, and a variety of commentators and organisations in civil society, about whether the current range of economic indicators accurately measure key aspects of economic behaviour and performance.

This discussion paper sets out two key propositions on rethinking the way we measure the economy and define economic success:

  1. New technologies, business models and economic goals require significant improvements in the measurement of key economic statistics.
  2. New indicators of economic outcomes can better define and measure the goals of economic policy.

Related items

  1. Graphic depicting a stack of pound coins in the background and one sideways pound coin displayed on its side in the foreground

    The full-speed economy: Does running a hotter economy benefit workers?

    How a slightly hotter economy might be able to boost future growth.
  2. The outside of Rochdale town hall on a sunny day, with flowers in the foreground

    Making the most of it: Unitarisation, hyperlocal democratic renewal and community empowerment

    Local government reorganisation need not result in a weakening of democracy at the local level.
  3. West Midlands Metro Tram at Victoria Square in Birmingham city centre during 2022 Commonwealth Games

    Transport and growth: Reforming transport investment for place-based growth

    The ability to deliver transformative public transport is not constrained by a lack of ideas, public support or local ambition. It is constrained by the way decisions are taken at the national level.