Call to overhaul economic data

Report of the International Commission on the Measurement of Economic Performance and Social Progress (Chairman: Joseph Stiglitz) set up by French President Nicolas Sarkozy in 2008. The Commission's report was published in September 2009.

Increasing concerns had been raised for a long time about the adequacy of current measures of economic performance, in particular those based on GDP figures. Moreover, there were broader concerns about the relevance of these figures as measures of societal well-being, as well as measures of economic, environmental, and social sustainability.

Reflecting these concerns, President Sarkozy decided to create the Commission, to look at the entire range of issues. Its aim was to identify the limits of GDP as an indicator of economic performance and social progress, to consider additional information required for the production of a more relevant picture, to discuss how to present this information in the most appropriate way, and to check the feasibility of measurement tools proposed by the Commission.

The Commission's work was not focused on France, nor on developed countries. The output of the Commission has now been made public, providing a template for every interested country or group of countries.

France24, 14.9.09: Stiglitz report calls for measure of 'well-being' alongside growth http://www.france24.com/en/20090914-france-advocates-new-ways-measure-growth-based-well-being-gdp-stiglitz-report-nobel-economics-sarkozy-statistics

Website: France: Commission on the Measurement of Economic Performance and Social Progress http://www.stiglitz-sen-fitoussi.fr/en/index.htm

ESO: Background information: EU mulls indicators to measure wellbeing 'beyond GDP' http://www.europeansources.info/record/eu-mulls-indicators-to-measure-wellbeing-beyond-gdp/

EurActiv, 15.9.09: Sarkozy unveils new plan to measure economic growth http://www.euractiv.com/euro-finance/sarkozy-unveils-new-plan-measure-news-222412

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