“That's something that GDP measures very poorly - or not at all, in fact,” Ms. Aydogan said, “so, the whole movement around ‘Beyond GDP’ is to look into ways of moving from an extractive economy – which we are on right now – into an economy where capital…is not only created for economic purposes that only benefit a few, but actually for people and planet.” They should also create incentives for governments to move away from an outdated, GDP-heavy paradigm that was created in the 1930s, in the aftermath of the Great Depression, by the economist Simon Kuznets to measure economic output and help policymakers respond to the crisis. Among those supporting calls to think creatively about reforming GDP and to “recommit to multilateralism” to find solutions for heavily indebted countries held back by classic financial models created after the Second World War, is Ambassador Matthew Wilson of the Permanent Mission of Barbados to the UN in Geneva.
Author: dpicampaigns
Published at: 2025-03-29 12:00:00
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