a new growth indicator

Within the framework of the dominant neoclassical economic theory, gross domestic product (GDP), i.e. the total value of all goods and services produced in a country over a given period, has been used as the main indicator of growth. Growth is inextricably linked to a nation’s well-being and prosperity, so increasing production and consumption is seen as the way to achieve a better world for all. GDP has encouraged unsustainable practices that have contributed to climate and biodiversity emergencies, without ever having to acknowledge how and to what extent nature has contributed to economic growth. It’s high timeconsider other measures, such as Gross Ecosystem Product (GEP), to account for nature’s contribution to economic activity and human well-being.

 

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