Titlebook: Economics as Applied Ethics; Fact and Value in Ec Wilfred Beckerman Textbook 2017Latest edition The Editor(s) (if applicable) and The Autho

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https://doi.org/10.1007/978-3-658-39350-2DP and so on. At the same time there has been growing criticism of the national income concept as a measure of ‘welfare’. In the last five decades or so all the advanced countries of the world experienced historically unprecedented rates of economic growth, so that . real incomes soon reached levels that were way above those of the prewar period.

Decline

Anthropo- und biomedizinische Technik money – or income or GDP – contributes is some wider concept such as ‘happiness’ or ‘well-being’. The implication of this is that ‘the benefits of a new policy should now be measured in terms of the impact of the change upon the happiness of the population.

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