- When growth is empty: towards an inclusive economics
- The Broker
- Pages (from-to)
- Document type
- Faculty of Social and Behavioural Sciences (FMG)
- Amsterdam Institute for Social Science Research (AISSR)
The pursuit of endless growth and the ensuing global financial crisis have eroded public trust in economic policy. As a result, an increasing number of economists are advocating a more inclusive global economy.
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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