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Moving beyond GDP: The Case for Wealth as a Core Measure of National Progress
If GDP growth is weak or, worse, negative, things are said to be going poorly and intervention to change course will be called for. GDP was not designed for this purpose, though, and there are many reasons why increasing GDP is not correlated with increased well-being. GDP fixation leads decision-makers to favor policies with narrow economic benefits for those alive today, even if those policies undermine well-being in the long run.

While agreement is growing that countries must move beyond GDP and adopt new measures of progress, just what those measures should be remains a matter of debate. Among the handful of credible alternatives to GDP is inclusive wealth - a powerful measure of sustainability. Inclusive wealth comprises the assets that underlie human well-being: natural, human, social, produced and financial capital. Despite this, no government today measures inclusive wealth.

This seminar will explore adoption of inclusive wealth as a means of moving beyond GDP. Eminent speakers will explain what inclusive wealth is, how it relates to the sustainability of well-being and how government policies would differ if inclusive wealth, rather than GDP, occupied the center of decision-makers dashboards.

Jun 13, 2022 08:00 AM in Eastern Time (US and Canada)

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