An interview on the challenges of measuring the true costs and benefits of economic development.
Sir Dasgupta states, "GDP is inadequate and misleading. Most people who have warned us about the limitations of GDP as an index of economic well-being have pointed to its insensitivity to such ethical concerns as inequality." And continues, "We do need new measures to assess economic progress, but [we] have developed the required index. It's an inclusive measure of wealth."
The Inclusive Wealth Report 2012 (IWR) is a project of UNU-IHDP, which reassesses the meaning and aspirations of economic growth. It presents the Inclusive Wealth Index (IWI) a recalculation of our growth metrics to include natural capital, social capital, and manufactured capital. The report will be launched at Rio+20 in June, and will be published by Cambridge University. For more information visit: www.ihdp.unu.edu
ABOUT THE INTERVIEWEE
Sir Partha Dasgupta is Frank Ramsey Professor Emeritus of Economics at the University of Cambridge, is the Science Advisor of the Inclusive Wealth Report 2012, and Scientific Committee Chair of the International Human Dimensions Programme on Global Environmental Change (IHDP).