Rethinking Measures of Economic Impact
DOI link for Rethinking Measures of Economic Impact
Rethinking Measures of Economic Impact book
The chapter introduces the power of measurement and the distortions caused by measuring the wrong things in relation to economic development. It discusses the rationale for measuring outcomes versus inputs and provides insights and examples of measures of outcome related to all eight forms of wealth. Measuring individual forms of wealth is differentiated from measuring systems change. Measurement as a non-extractive, value-adding activity for wealth creation value chain participants is discussed, as is using measurement to make data-driven decisions.