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Measuring the wealth of nations

Kirk Hamilton1, John A Dixon

  • 1Environment Department, The World Bank, Washington DC, USA. khamilton@worldbank.org

Related Concept Videos

Measures of Intelligence01:29

Measures of Intelligence

Psychologists measure intelligence by using standardized tests that produce a score known as the intelligence quotient or IQ. To understand IQ tests, it's important to recognize the key principles behind their construction: validity, reliability, and standardization.
Validity refers to how well a test measures what it claims to measure. An intelligence test should accurately assess intelligence rather than another characteristic, like anxiety. Criterion validity is one way to evaluate this; it...
Measures of Central Tendency02:16

Measures of Central Tendency

The "center" of a data set is also a way of describing location. The two most widely used measures of the "center" of the data are the mean (average) and the median. The words "mean" and "average" are often used interchangeably. The substitution of one word for the other is common practice. The technical term is "arithmetic mean" and "average" is technically a center location. However, in practice among non-statisticians, "average" is commonly accepted for "arithmetic mean."
Binet's Contribution to Measures of Intelligence01:23

Binet's Contribution to Measures of Intelligence

Alfred Binet, along with his student Théophile Simon, was tasked by the French Ministry of Education in 1904 to create a method for identifying students who struggled to learn through conventional classroom instruction. This initiative aimed to address overcrowding by placing such students in specialized schools. Binet and Simon developed an intelligence test comprising 30 tasks, ranging from simple commands, like touching one's nose or ear, to more complex tasks, such as drawing designs from...
Measurement: Standard Units03:38

Measurement: Standard Units

Every measurement provides three kinds of information: the size or magnitude of the measurement (a number), a standard of comparison for the measurement (a unit), and an indication of the uncertainty of the measurement. While the number and unit are explicitly represented when a quantity is written, the uncertainty is an aspect of the errors in the measurement results.
Wechsler's Contribution to Measures of Intelligence01:23

Wechsler's Contribution to Measures of Intelligence

David Wechsler, a psychologist who worked with World War I veterans, developed a significant IQ test in 1939 called the Wechsler-Bellevue Intelligence Scale. This test was innovative because it combined several subtests that measured both verbal and nonverbal skills, reflecting Wechsler's belief that intelligence is a global capacity involving purposeful action, rational thinking, and effective interaction with the environment. This test later evolved into the Wechsler Adult Intelligence Scale...
Measurement: Derived Units03:02

Measurement: Derived Units

The International System of Units or SI system, by international agreement, has fixed measurement units for seven fundamental properties: length, mass, time, temperature, electric current, amount of substance, and luminosity. These are called the SI base units.