Measures of progress serve as a crucial link between
the economy and the nations policymaking
establishment. Given that the idea of efficient
allocation of resources is such a powerful influence
in economics, a progress measure needs to account
for most aspects of progress so it can serve as a
basis for decisions to improve resource allocation.

However, the conceptualisation of progress is
fraught with difficulties, misconceptions and
contradictions. Primarily, the contested nature of
the concept leads to a general lack of agreement on
a number of issues, such as adopting an...