Hi Plopeanu. I think that quality of economic policies can be measured by their sustainability (economic, social and environmental sustainability). European Union main goals is to ensure green and inclusive growth. You need to look at indexes of sustainability (weak sustainability) and to see the effect of these economic policies on the sustainability. Best, Adel.

Dear Plopeanu,

Your question can be answered in several ways. The HDI was supposed to improve its alternate, GDP, by bringing in per capita income, life expectancy, and literacy rates and schooling. You should look for other inputs beside those that comprise HDI at present.

One can rank the countries by their wealth, or some measures of their well-being. The latter seems to be the most qualitative. Once you decide on the alternative variables, you can use some judgmental tools on the variables. The ones that come to my mind are Analytic Hierarchy Processes, and Analytic Network Processes, AHP/ANP. Professor Thomas L. Saaty of the University of Pittsburg, PA has developed such tools and software for these processes. You can find out more at this site: www.decisionlens.com/superdecisions

Thank you very much for the answers. Best, Aurelian.

I think this is a very interesting issue. 

It will depend on  how do you want to measure the quality as this is a very normative term. However,  i would like to measure the quality of economic policy as how inclusive is that.  The possible indicators might be , how inclusive jobs are there for Minorities, for immigrants and for socially disadvantage groups? How inclusive the policy is for social equity and to ensure social Justice for the people? Housing policy, social service policies and welfare policy, pension scheme, etc.

The theory of inter-sectionality might be helpful tool to identify the indicators. 

The other might be same as Mr.Abdel  the issue of Sustainability. 

I hope it might be helpful for you.

regards 

Thanks, Al Amin Rabby! Best, Aurelian

You may be interested in my recent book (attached below). On pages 246-251 I compared different methods (including HDI) for ranking countries' success.

Book Missing a Decent Living for Everyone: Success and Failure in...

Thanks, Veli Himanen! Best, Aurelian

Try to collect data of some country, or area, GPI (Genuine Progress Indicator) and then expand it, country by country, to Europe. I've started to do it for Portugal - it's a long walk. Try to study the "Alberta's Genuine Progress Indicator".

Thanks, Fernando! Best, Aurelian

Maybe we can cross data, that's one of my interest research issues.

you can use a hybrid methodology for this purpose, the qualitative method of SWOT approach in combination with AHP model may give the best result.

Thanks, Subhajit! Best, Aurelian

Hello, 

very interesting question, I would like to share some of my ideas - of course these are propositions:

1. Level of creativity: thus one of aims of European Union is development of cretivity , creative economie etc. EU also grant large amount of its founds to develope creativity within EU member states. This drive to develope the creative based economy is now one of leading ides within EU at least. EUROSTAT publishes data about this issue, they also have a statistical indicator for this - creativity index I guess. 

2. One can also use some data and indexes connected with the development of green energy. The amount/ share of so called green energy in total energy production could be a basis for a assesment of economy condition. Thus in advanced economies the usage of green energy sources 9renevable energy) is much higher than in developing countries. Within the European Union there are also large differences in this are for example between Poland (less developed) and Germany (high developed country). 

3. I think that some indexes regarding the economic freedom are very importan as well. For example the time needed to open new firm. It coulde be from 2-3 days in UK to 2-3 months in Poland. It is important how many different documents and allowances you need to open new entrepreneurship etc. 

4. The number of new established businesse and their structure could be helpful.- number of start ups. 

Hope it will help a little. 

Best Waldemar 

Thank you, Waldemar. We keep in touch!