Abstract
The Life Product Index (LPI) is a combination of life expectancy and gross domestic product. It is structured to the notion of ‘quality-adjusted life’ and calibrated to conform with the value of economic activity reflected in the national time budget. The LPI can serve as a guide in national policy planning. It can also be used as an indicator of sensible regulation of hazardous technology and as a guide in the assessment of individual projects. An LPI criterion for net benefit assessment of a project, policy or proposed regulation is derived from first principles. Application is illustrated by an example.
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Lind, N.C. A compound index of national development. Soc Indic Res 28, 267–284 (1993). https://doi.org/10.1007/BF01079021
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DOI: https://doi.org/10.1007/BF01079021