UN Calls for Integrative Indicators to Reframe Economic Progress Beyond GDP
Original framing: “Science can take the lead in making better measures of economic growth” — Nature
The development of GDP as a measure of economic growth has its roots in Western economic thought, particularly in the work of Simon Kuznets. However, the limitations of GDP have been recognized for decades, and alternative indicators have been proposed. Score: 0.9
The United Nations' initiative to develop integrative indicators of economic progress beyond GDP represents a critical opportunity to reframe the way we think about economic growth and development.
By taking into account social, environmental, and economic factors, policymakers and researchers can design more effective indicators that prioritize community and the natural world. This requires a collaborative approach that involves marginalized communities, policymakers, and researchers in the design and implementation of economic indicators. By doing so, we can promote more sustainable and equitable economic growth that benefits all members of society, not just the wealthy and powerful. The development of alternative economic systems, participatory budgeting, and scenario planning can help policymakers and researchers design more effective indicators of economic progress that prioritize social and environmental well-being. Ultimately, this initiative has the potential to transform the way we think about economic growth and development, and to promote a more just and sustainable world.