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The Social Progress Index (SPI) measures the extent to which countries provide for the social and environmental needs of their citizens. Fifty-four indicators in the areas of basic human needs, foundations of well-being, and opportunity to progress show the relative performance of nations.
Research done by economist K. N. Raj played a pivotal role in the model's development.. The Kerala model originally differed from conventional development thinking which focuses on achieving high GDP growth rates, however, in 1990, Pakistani economist Mahbub ul Haq changed the focus of development economics from national income accounting to people centered policies.
Social development theory attempts to explain qualitative changes in the structure and framework of society, that help the society to better realize aims and objectives.. Development can be defined in a manner applicable to all societies at all historical periods as an upward ascending movement featuring greater levels of energy, efficiency, quality, productivity, complexity, comprehension ...
In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives.
Social indicators – combine several aspects of social progress. Environmental indicators – relate to the environmental development and linked issues such as human health. Well-being – include both subjective and objective measures to report on quality of life and life satisfaction.
Global indicators- Due to differences in social, economical, and environmental conditions of countries, each country has its own indicators and indexes to measure sustainability, which can lead to improper and varying interpretation at the global level. Hence, there common indexes and measuring parameters would allow comparisons among countries.
The OECD Better Life Index, created in May 2011 by the Organisation for Economic Co-operation and Development, is an initiative pioneering the development of economic indicators which better capture multiple dimensions of economic and social progress. [1] [2]
In essence, indicators are measurements that reflect the interplay between social, environmental, and economic factors affecting a region’s or community’s well-being. Community indicators projects typically are conducted by nonprofit organizations within a community, although in some cases they are initiated by the public sector.