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Editorial Rating

8

Qualities

  • Eye Opening
  • Overview
  • Concrete Examples

Recommendation

As the world economy changes, so too must the tools used to measure it. GDP is a telling example, capturing economic growth and employment but not the quality of human life or of the environment. Economists and public policy experts Natalie Pierce, Peter Vanham, Diane Coyle and Girol Karacaoglu look at the big picture in this instructive episode of the World Economic Forum’s Stakeholder Capitalism podcast. Their enlightening discussion showcases how some countries are tackling the messy problem of economic measurement.

Take-Aways

  • Gross domestic product is a universal gauge of a nation’s economic success. Yet it fails in several respects.
  • Developments in the global economy have shined a light on the utility of GDP in its current form.
  • Some countries are using alternatives to GDP.

About the Podcast

The World Economic Forum’s Natalie Pierce and Peter Vanham cohost the Stakeholder Capitalism podcast. Diane Coyle is a professor of public policy at Cambridge University. Girol Karacaoglu is head of the School of Government at Victoria University in New Zealand.


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