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Tag Archives: economic growth
Bhutan is the only country in the world that does not measure its progress in GDP terms. Realizing the inadequacies of GDP, it adopted a holistic approach to enhance the well-being and happiness of its people through its idea of Gross National Happiness (GNH). It goes well beyond economics and considers factors like spirituality, cultural aspects, ecological diversity and good governance. Continue reading
Poverty is by nature multidimensional. It can’t be adequately measured or described by any single-dimensional parameter like income. Moreover, it is a situation of deprivation that is a net result of several factors – personal, social, cultural and political. Hence, comprehensive approach is needed to tackle the issue of poverty. Continue reading
The idea that “development” only means economic growth is a faulty one. This narrow thinking is behind all ills of the world today – global warming and climate change are just the logical byproducts. Professor Amartya Sen theorizes that “real development” is development of people’s capabilities. Continue reading