Our Common Agenda Policy Brief 4 – Valuing What Counts: Framework to Progress Beyond Gross Domestic Product
Lead author: Jebilson Raja Joslin
This policy brief outlines the shortcomings of our reliance on Gross Domestic Product (GDP) as a primary measure of economic development. This is, broadly, due to its failure to account for certain dimensions of economic activity, environmental destruction and human well-being. The brief recognises, moreover, the SDGs, 2030 Agenda for Sustainable Development and the Human Development Index (among others) as initiatives to go “Beyond GDP”.
The key recommendations of this brief call for: a renewed political commitment by Member States to accurately “value what counts”, the construction of a robust technical and scientific process to produce key indicators that go “Beyond GDP”, and a major capacity-building and resourcing initiative to enable Member States to effectively utilise the new framework. Overall, these recommendations promote the creation of a universal and comprehensive measurement of sustainable development to complement, rather than replace, GDP; to more strongly capture what matters to the people, the planet and the future.
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Policy Brief 4 Valuing What Counts: Framework to Progress Beyond Gross Domestic Product