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Policy news & blueprints for the transition to a new Sustainable and Social Economy
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Joseph E. Stiglitz argues that the impact of technological change on living standards has become increasingly unclear

Joseph E. Stiglitz argues that the impact of technological change on living standards has become increasingly unclear | The Great Transition | Scoop.it
Around the world, there is enormous enthusiasm for the type of technological innovation symbolized by Silicon Valley, with many attempting to replicate the ingenuity that they regard as America’s true comparative advantage. But there is a puzzle: it is difficult to detect the benefits of this innovation in GDP statistics.
Willy De Backer's insight:

Excellent article by Joe Stiglitz in Project Syndicate.

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rafaeldiazarias's curator insight, March 10, 2014 4:32 AM

A menudo se ignoran los costes sociales de las innovaciones, tanto en términos económicos como de progreso social

Artur Alves's curator insight, March 11, 2014 5:38 AM

"Still, one cannot avoid the uneasy feeling that, when all is said and done, the contribution of recent technological innovations to long-term growth in living standards may be substantially less than the enthusiasts claim. A lot of intellectual effort has been devoted to devising better ways of maximizing advertising and marketing budgets – targeting customers, especially the affluent, who might actually buy the product. But standards of living might have been raised even more if all of this innovative talent had been allocated to more fundamental research – or even to more applied research that could have led to new products."

Eli Levine's curator insight, March 11, 2014 9:34 AM

The valueless economy at work.  At least, the way that we measure it is valueless.

What good is monetary gain if it does not produce a better quality of life for everyone?

How does it help the elite if they destroy everything for the sake of personal monetary "gain"? 

 

Why do we sacrifice so much of our actual well being for the sake of GDP "growth" (if that "growth" manifests itself in the first place

 

Think about it.

 

Because, apparently, some very important people, are not.

 

Think about it.

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Décroissance: how the French counter capitalism - FT.com

"Décroissance is a kind of environmentalism, but it is more than that. An important intellectual underpinning of the movement is the idea that gross domestic product is a deficient yardstick for economic performance and growth. It doesn’t measure the degradation of the environment as lost wealth, nor distinguish between productive economic activity and pointless (or destructive) make-work. And we now know that the huge role of debt in a growth-obsessed economy makes any measurement of its size untrustworthy."

Great to see an article on the French degrowth movement in the Orange Stronghold of Capitalism.

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GDP indicators must integrate economy and environment: Stakeholders | EurActiv

GDP indicators must integrate economy and environment: Stakeholders | EurActiv | The Great Transition | Scoop.it

Growth indicators should take into account social progress and the use of natural resources, said a number of NGO and institutional leaders at a conference in Louvain-la-Neuve, Belgium.

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At U.N. Happiness Summit, A Coal Pile in the Ballroom

At U.N. Happiness Summit, A Coal Pile in the Ballroom | The Great Transition | Scoop.it

"The fact that economists were at the podium questioning the equivalence of happiness and GDP is a hopeful sign, a sign of a deep crack in the foundation of the economics discipline. But it is one thing to say there is more to happiness than economic growth; it is quite another to propose that economic growth is inimical to generalized happiness."

 

Great article on the recent UN happiness conference organised by Bhutan. The author questions GDP but is also critical of some of the Beyond GDP ideas.

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Vergötterung des BIP – Wider den Hurrapatriotismus der Wachstumsfetischisten

Vergötterung des BIP – Wider den Hurrapatriotismus der Wachstumsfetischisten | The Great Transition | Scoop.it
Wie ein Kaninchen starren wir auf die Schlange namens "Bruttoinlandsprodukt". Doch der Fetisch "Wachstum" ist nicht zu halten, sagen Experten: Wie gut es einem Land wirtschaftlich gehe, muss anders bemessen werden.

Good article in Germany's Süddeutsche on the Beyond GDP debate.

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