Alternative Analysis of the Economic Outlook: Social-Oriented and Individual-Oriented Political Economy Approach


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Ekren N., Fındıkçı Erdoğan M., Bildik K. H.

Gümüşhane Üniversitesi Sosyal Bilimler Enstitüsü Elektronik Dergisi, cilt.14, sa.2, ss.668-679, 2023 (Hakemli Dergi)

Özet

How should the macroeconomic outlook be interpreted for individuals and the population?This study is developing an alternative macroeconomic performance measurement approach by proportioning the selected macroeconomic indicators to the population.This provides data on the individual-oriented cumulative outcome of economic management's decision-making and implementation processes.Also, it would show the gains/costs faced by individuals depending on the economic outlook.The crises encountered in the 21st century bring up debates on change/transformation in the roles/functions of states and public authorities at national/global scales. The second aim is to compare the macroeconomic performances measured based on both GDP and per capita macroeconomic indicators of countries. In accordance, the macroeconomic performances of 33 developed and developing countries for the 2000-2021 period were examined with the MOORA.The performance of the countries analyzed is based on both GDP and population-proportioned indicators (per capita). Thus, the similarities and/or differences between both macroeconomic performance measures are determined. In addition to emphasizing the individual-centered performance approach by dividing the population, the study also provides the indirect addition of an external indicator. The measurement style of the indicator of the GDP scores is called the Social-Centred Welfare Index and the indicator of the scores per capita is called the Individual-Centred Welfare Index