The global financial crisis has exposed the weaknesses of the liberalized economic system and resulted in calls for a more inclusive global economy.
Leading economists, such as Amartya Sen, are stressing the need for ethics and morality, and
culture and context, to be reintroduced into economics.
Human well-being, therefore, should be the central goal of economic performance and social
progress, and not material welfare.
Any new measure of economic performance needs to also assess the value of social provisioning -
goods produced by unpaid economic activities, such as household and community production, and
unpaid goods and services.
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