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Meaningful Metrics for a Smart Society
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Date: 2019-07-17 Page is: DBtxt001.php list0300-Quantification-quality-of-life-1

Definitions for TrueValueMetrics
Quantification ... Quality of life

In the history of measurement there has been a lot of dialog about the problem of accuracy ... especially in science and engineering. The intellectual effort has been substantial and progress has been made that is very impressive.

But in the history of measurement as it relates to economics and finance there has been little dialog and a number of crucial issues have still to be addressed ... let alone resolved.

Money is widely used as a measure in financial and economic analysis and reporting ... but money is variable and not firmly anchored to anything! At best money ... its price ... is determined by supply and demand, and these in turn are driven by underlying economic performance and global sentiment about one money relative to other moneys.

TVM has chosen to use metrics that are based directly on the underlying economic performance of the community, including the community's potential. At this stage quantification is based on the following:

  • Very good is “a”
  • Very bad is “z”
  • Something in the middles is “m” or “n”

Nuances many be achieved using any letter of the alphabet ... varying shades of good from “a” to “m” ... varying shades of bad from “z” to “n”.

The scale of good or the scale of bad is reflected using a numerical modifier ... thus a very strong good would be “a9” and a very strong bad would be “z9”



The text being discussed is available at


TrueValueMetrics (TVM) is an Open Source / Open Knowledge initiative.
It has been funded by family and friends plus donations from well wishers who understand
the importance of accountability and getting the management metrics right.
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