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WELLBEING AND DEGROWTH:
MOVING BEYOND GDP
Project name:
Wellbeing and Degrowth: Moving Beyond GDP
Year conceptualized:
2018
Funding:
Pending
Modality:
New transformative (and disruptive) concepts
Department:
PARD
Sector:
Conceptual innovation Multi-sectoral and cross-cutting (reducing inequalities, climate change, environmental sustainability, governance, gender equality, regional cooperation, etc.)
Team :
Ritu Verma
CHALLENGE:
Mounting global pressure to move beyond GDP
argued by Nobel Prize Laureates Sen, Stiglitz, and Ostrom
GDP as a narrow measure of human development
Widening income inequalities
Problematic externalization of social and environmental costs
Only transactions
with market price and ‘value’ counted
SOLUTIONS
Contributes to climate change
Other critical issues (meaning of development, positional goods, values, unpaid work, etc.)
Move beyond narrow confines of GDP
Recalibrate development
Be ahead of the curve
Information gathering, analysis, and design to further develop the concept
Uptake conceptual innovations from international movements: Degrowth
Innovate conceptual frameworks
NEXT STEPS
Urgent research on new development thinking and rare/ living development alternatives
Transformative (and disruptive) thinking
Learn from living development alternatives (Asia and the Pacific)
Lessons learned and knowledge sharing from regional solutions: Bhutan’s Gross National Happiness
Critical need for knowledge sharing with leading experts, eminent scholars
Scale up learnings from alternative development frameworks towards Strategy 2030
Engage in holistic solutions to avert planetary crisis