[Ok-sus] Wow!: Bernanke: Economists should focus on well-being

Julie Gahn juliegahn at yahoo.com
Mon Aug 6 11:19:46 CDT 2012


By Greg Robb
"WASHINGTON (MarketWatch) - Economists should find better ways to measure the 
life satisfaction of citizens, Federal Reserve Board Chairman Ben Bernanke said 
Monday. "We should seek better and more-direct measurements of economic 
well-being," as this is the "ultimate purpose" of economics, Bernanke said in 
prerecorded remarks to an international conference of economists in Cambridge, 
Mass. National statistics like gross domestic product paint an incomplete 
picture of what many individuals are experiencing, he said. As economists 
continue to work on measuring well-being, there will likely be a greater 
recognition of the contributions of psychology, Bernanke said."
http://www.marketwatch.com/story/bernankeeconomists-should-focus-on-well-being-2012-08-06?siteid=bigcharts&dist=bigcharts  Julie
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