[homeles_ot-l] Fwd: CSLS Releases New Estimates of Index of Economic Well-being for Canada and OECD Countries

[Terrie]

---------- Forwarded message ----------
From: Andrew Sharpe <andrew.sharpe at csls.ca>
Date: 2009/12/3
Subject: CSLS Releases New Estimates of Index of Economic Well-being for
Canada and OECD Countries
To: mocharebyl at gmail.com


   *CSLS Releases New Estimates of Index of Economic Well-being for Canada
and OECD Countries *

*Ottawa, December 3, 2009* - On September 14, 2009 French President Nicolas
Sarkozy released the report of the Commission on the Measurement of Economic
Performance and Social Progress (
http://www.stiglitz-sen-fitoussi.fr/en/index.htm). Named after Commission
Chair and Nobel Prize recipient Joseph Stiglitz, the Stiglitz report
identified the limits of GDP as an indicator of social progress and economic
performance and called for efforts to improve metrics in this area.

The Centre for the Study of Living Standards (CSLS) today released new
estimates of economic well-being in Canada and 13 other OECD countries
that are consistent with the recommendations of the Stiglitz report.

The Index of Economic Well-being (IEWB) focuses on consumption rather than
production, emphasizes the household perspective, integrates wealth into
well-being measurement, and gives prominence to distributional issues.

It also includes non-market activities such as household work, highlights
the economic security aspect of well-being, incorporates an environmental
sustainability dimension into well-being measurement and makes use of
surveys of subjective well-being.

The IEWB estimates are being released in two reports, authored by Lars
Osberg of Dalhousie University and CSLS Executive Director Andrew Sharpe.
The first <http://www.csls.ca/reports/csls2009-10.pdf> compares the Canadian
provinces for the 1981-2008 period in levels and growth rates of overall
economic well-being and its four dimensions: current consumption,
sustainability (i.e. stocks of man-made and natural wealth), equality, and
economic security. The second
<http://www.csls.ca/reports/csls2009-11.pdf>uses the same methodology
to assess the level and growth in economic
well-being in Canada relative to 13 other OECD countries for the 1980-2007
period.

The key findings of the two reports are:

• Economic well-being advanced at a slower rate than GDP per capita in
Canada over the 1981-2008 period due to decreased equality and economic
security.

• In 2008, Alberta had the highest level of overall economic well-being
among the ten provinces due to high levels of current consumption and
wealth. Quebec and New Brunswick had the lowest levels of economic
well-being.

• When each dimension of economic well being is equally weighted, Canada
ranked 9th out of the 14 OECD countries for which IEWB estimates are
currently available. Norway ranked first and Spain 14th. The United States
was 13th.

• In term of the four dimensions of economic well-being captured by the
index, Canada ranked 7th in stocks of sustainability/wealth, 8th in
consumption, 9th in economic security, and 11th in equality among the 14
countries.

• The falling consumption and rising unemployment and poverty produced by
the current economic crisis is resulting in a significant fall in economic
well-being in this country and in other OECD countries.

The reports are posted at the CSLS web site under Research
Reports.<http://www.csls.ca/res_reports.asp>

A summary of the studies is found in the Fall 2009 issue of the CSLS
newsletter. <http://www.csls.ca/news/CSLSNews-fall2009.pdf>

The *Centre for the Study of Living Standards* (CSLS) is an Ottawa-based
national, independent, not-for-profit research organization which began
operations in August 1995. Its objectives are twofold. First, to contribute
to a better understanding of trends and determinants of productivity, living
standards, and economic well-being in Canada through research. Second, to
contribute to public debate by developing and advocating specific policies
to improve the standard of living of Canadians.

Further information/interviews: Andrew Sharpe, 613-233-8891,
andrew.sharpe at csls.ca





-- 
Terrie ( mocharebyl at gmail.com )
“If you see an injustice being committed, you aren't an observer, you are a
participant.” June Callwood
Prejudice is a burden that confuses the past, threatens the future and
renders the present inaccessible.  Maya Angelou
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