What is the difference between relative and numerical age dating
Phenomenal scientific and social progress since the end of World War II has opened up previously unimagined opportunities and ignited soaring aspirations the world over.
Today humanity pursues a common quest for higher standards of living, greater economic security, sustainable development, higher levels of welfare and well-being.
We propose new composite indicator, HEWI, which can be used to guide decision-making, which retains the strengths associated with GDP, while substantially enhancing its value as a measure of human economic development.
HEWI monitors progress on factors that contribute prominently to present economic welfare — household consumption, government welfare-related expenditure, income inequality and unemployment — as well as factors that have the potential to significantly enhance long term sustainability — education, fossil fuel energy efficiency and net household savings.
Right measurement is a powerful instrument for social progress; wrong or imprecise measurement a source of hazard and even havoc.
The essential purpose of economic activity is the promotion of human development, welfare and well-being in a sustainable manner, and not growth for growth’s sake, yet we lack effective measures to monitor progress toward these objectives.
Advances in understanding, theory and measurement must necessarily proceed hand in hand.
DNA fingerprinting has largely replaced hand fingerprinting as a precise means for identifying human beings.The index is applied to assess the economic performance of select countries from 1985-2005.Human beings are distinguished from other life forms by their unique ability to fashion tools which extend our powers of consciousness beyond the reach of our senses and our powers of execution beyond the limits of strength, endurance, space and time imposed by our physical bodies. Language is a tool which enables us to formulate original ideas, communicate our inmost thoughts and feelings, record events for posterity, transmit knowledge down through the ages, and exchange ideas over vast expanses of time and space.The development of modern economy has been made possible by continuous development and refinement of tools and measures.The Domesday Book is a record of the first known numerical census conducted by William I of England in 1085 to identify arable lands, livestock, fisheries and other sources of national wealth as a basis for improved tax collection. Today economics employs a wide range of indispensable measuring tools, including GDP, the consumer price index, interest rate, money supply, exchange rate and the unemployment rate.