The measure of a nation’s well-being goes beyond the level of and rate of growth of GDP. Economic well-being is a multi-dimensional concept.
Well-being might be measured for example using data on:
The economist Simon Kuznets helped to standardise the measurement of GNP in the 1930s. But he disapproved its use as a general indication of welfare, writing that “the welfare of a nation can scarcely be inferred from a measure of national income”
The Gig Economy
Many more people now work in jobs associated with the Gig Economy. These are jobs characterised by non-contract work, freelancing often using digital platforms such as Uber and Deliveroo.
A recent RSA/Ipsos Mori survey found that 59% of respondents working the gig economy are in professional, creative and administrative fields, with 18% providing skilled manual services (such as plumbing); 20% of the respondents worked as couriers or drivers, and another 17% in personal services such as cleaning. (Source: Coyle, NIESR, May 2017)
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