RECONSTRUCTING PROSPERITY: DEVELOPING A MAQASID-BASED WELL-BEING INDEX (MWBI) AS AN ALTERNATIVE TO GDP
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GDP Alternative, Holistic Prosperity, Well-Being Index
Abstract
The global reliance on Gross Domestic Product (GDP) as the dominant indicator of national prosperity has increasingly been criticized for its inability to capture multidimensional human well-being. GDP overlooks essential non-economic dimensions of life, including moral development, social cohesion, environmental balance, and spiritual fulfillment. The maqasid al-shari‘ah framework—emphasizing the preservation of faith, life, intellect, lineage, and wealth—offers a holistic paradigm for assessing well-being that aligns with ethical, social, and developmental priorities. The study addresses the need to construct an alternative index capable of reflecting comprehensive human flourishing grounded in Islamic values. The research aims to develop a Maqasid-Based Well-Being Index (MWBI) as a multidimensional measurement tool that integrates economic, social, environmental, and spiritual indicators. The objectives include identifying maqasid-driven domains of well-being, constructing measurable sub-indicators, and testing the MWBI model as a viable alternative or complement to GDP in evaluating national prosperity. A mixed-method approach was employed, combining quantitative indicator modelling with qualitative validation from Islamic scholars, economists, and development experts. Statistical normalization, factor analysis, and weighting procedures were used to construct the MWBI structure, while expert interviews supported conceptual refinement and ethical coherence. The results show that the MWBI captures dimensions of well-being omitted by GDP, particularly spiritual integrity, social justice, environmental stewardship, and intellectual development. Empirical testing demonstrates strong reliability and internal consistency across MWBI indicators, with performance patterns significantly diverging from GDP rankings. The study concludes that the MWBI provides a more balanced and ethically grounded representation of human prosperity. The index offers policymakers a transformative alternative for measuring societal progress beyond economic output alone.
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Copyright (c) 2025 Nadia Ait Ali, Ayesha Begum, Rania Ouertani
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