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How GDP Came to Rule the World, and What to Do About It

Cristian Cox

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The Little Big Number: How GDP Came to Rule the World and What to Do about It

by Dirk Philipsen

4.2 out of 5

Language	:	English
File size	:	10392 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
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Print length	:	403 pages

GDP is the most widely used measure of economic progress, but it's deeply flawed. It doesn't take into account the things that matter most to people, like well-being, sustainability, and equality.

In his book, How GDP Came to Rule the World, and What to Do About It, Robert Skidelsky argues that we need a new measure of progress that takes into account these important factors.

Skidelsky traces the history of GDP and shows how it came to be the dominant measure of economic progress. He argues that GDP is a product of the Industrial Revolution, and that it's no longer fit for purpose in the 21st century.

Skidelsky proposes a new measure of progress called the Index of Sustainable Economic Welfare (ISEW). The ISEW takes into account a wide range of factors, including:

Personal consumption
Public services
Environmental quality
Social justice

The ISEW is a more comprehensive measure of economic progress than GDP. It takes into account the things that matter most to people, and it's a better indicator of the overall health of a society.

Skidelsky argues that we need to adopt the ISEW as our new measure of economic progress. He believes that this will help us to create a more sustainable and equitable world.

What Can You Do?

There are a number of things you can do to help promote the adoption of the ISEW:

Learn more about the ISEW. The more people who know about the ISEW, the more likely it is to be adopted.
Talk to your friends and family about the ISEW. Help them to understand why the ISEW is a better measure of economic progress than GDP.
Write to your elected officials. Let them know that you support the adoption of the ISEW.

By taking these actions, you can help to create a more sustainable and equitable world.

The Little Big Number: How GDP Came to Rule the World and What to Do about It

by Dirk Philipsen

4.2 out of 5