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Replacing GDP by 2030

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  • Hoekstra,Rutger

Abstract

How did Gross domestic product (GDP) become the world's most influential indicator? Why does it still remain the primary measure of societal progress despite being widely criticised for not considering well-being or sustainability? Why have the many beyond-GDP alternatives not managed to effectively challenge GDP's dominance? The success of GDP and the failure of beyond-GDP lies in their underlying communities. The macro-economic community emerged in the aftermath of the Great Depression and WWII. This community formalised their 'language' in the System of National Accounts (SNA) which provided the global terminology with which to communicate. On the other hand, beyond-GDP is a heterogeneous community which speaks in many dialects, accents and languages. Unless this changes, the 'beyond-GDP cottage industry' will never beat the 'GDP-multinational'. This book proposes a new roadmap to 2030, detailing how to create a multidisciplinary Wellbeing and Sustainability Science (WSS) with a common language, the System of Global and National Accounts (SGNA).

Suggested Citation

  • Hoekstra,Rutger, 2019. "Replacing GDP by 2030," Cambridge Books, Cambridge University Press, number 9781108739870, October.
    • Handle: RePEc:cup:cbooks:9781108739870
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    1. Cook, David & Davíðsdóttir, Brynhildur, 2021. "An appraisal of interlinkages between macro-economic indicators of economic well-being and the sustainable development goals," Ecological Economics, Elsevier, vol. 184(C).
    2. Paul Schreyer, 2021. "Framing Measurement Beyond GDP," CEPA Working Papers Series WP172021, School of Economics, University of Queensland, Australia.
    3. Mattia Guerini & Fabio Vanni & Mauro Napoletano, 2022. "E pluribus, quaedam. Gross domestic product out of a dashboard of indicators," Working Papers 2022.15, Fondazione Eni Enrico Mattei.
    4. van den Bergh, Jeroen C.J.M., 2022. "A procedure for globally institutionalizing a ‘beyond-GDP’ metric," Ecological Economics, Elsevier, vol. 192(C).
    5. Angus Deaton & Paul Schreyer, 2022. "GDP, Wellbeing, and Health: Thoughts on the 2017 Round of the International Comparison Program," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 68(1), pages 1-15, March.
    6. Dirk Schoenmaker & Hans Stegeman, 2023. "Can the Market Economy Deal with Sustainability?," De Economist, Springer, vol. 171(1), pages 25-49, March.
    7. Cook, David & Kaji, Takeshi Benjamín & Davíðsdóttir, Brynhildur, 2023. "An assessment of the scope and comprehensiveness of well-being economy indicator sets: The cases of Iceland, Scotland and New Zealand," Ecological Economics, Elsevier, vol. 205(C).
    8. Gabriela OPAIT, 2021. "The „Fingerprint” of the American Management in the Powerful Dynamics Concerning the Real G.D.P. from the United States of America," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 183-194.
    9. Christoph Dörffel & Sebastian Schuhmann, 2022. "What is Inclusive Development? Introducing the Multidimensional Inclusiveness Index," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 162(3), pages 1117-1148, August.
    10. Bagstad, Kenneth J. & Ingram, Jane Carter & Shapiro, Carl D. & La Notte, Alessandra & Maes, Joachim & Vallecillo, Sara & Casey, C. Frank & Glynn, Pierre D. & Heris, Mehdi P. & Johnson, Justin A. & Lau, 2021. "Lessons learned from development of natural capital accounts in the United States and European Union," Ecosystem Services, Elsevier, vol. 52(C).
    11. Cook, David & Davíðsdóttir, Brynhildur, 2021. "An estimate of the Genuine Progress Indicator for Iceland, 2000–2019," Ecological Economics, Elsevier, vol. 189(C).
    12. Ingram, Jane Carter & Bagstad, Kenneth J. & Vardon, Michael & Rhodes, Charles R. & Posner, Stephen & Casey, Clyde F. & Glynn, Pierre D. & Shapiro, Carl D., 2022. "Opportunities for businesses to use and support development of SEEA-aligned natural capital accounts," Ecosystem Services, Elsevier, vol. 55(C).
    13. Jonas Van der Slycken & Brent Bleys, 2021. "Towards ISEW and GPI 2.0, part II: Is Europe faring well with growth? Evidence from a welfare comparison in the EU-15 from 1995 to 2018," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 21/1027, Ghent University, Faculty of Economics and Business Administration.
    14. Cook, David & Davíðsdóttir, Brynhildur & Malinauskaite, Laura, 2023. "The role of ecosystem services in the doughnut economy – The example of whale ecosystem services in Disko Bay, Greenland," Ecosystem Services, Elsevier, vol. 63(C).
    15. David Cook & Brynhildur Davíðsdóttir & Ingunn Gunnarsdóttir, 2022. "A Conceptual Exploration of How the Pursuit of Sustainable Energy Development Is Implicit in the Genuine Progress Indicator," Energies, MDPI, vol. 15(6), pages 1-23, March.
    16. Lukas Messmann & Lars Wietschel & Andrea Thorenz & Axel Tuma, 2023. "Assessing the social dimension in strategic network optimization for a sustainable development: The case of bioethanol production in the EU," Journal of Industrial Ecology, Yale University, vol. 27(3), pages 760-776, June.
    17. Jonas Van der Slycken & Brent Bleys, 2021. "Towards ISEW and GPI 2.0, part I: developing two alternative measures of economic welfare with distinct time and boundary perspectives for Belgium," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 21/1026, Ghent University, Faculty of Economics and Business Administration.
    18. Jim Hart & Francesco Pomponi, 2021. "A Circular Economy: Where Will It Take Us?," Circular Economy and Sustainability, Springer, vol. 1(1), pages 127-141, June.
    19. Kalimeris, Panos & Bithas, Kostas & Richardson, Clive & Nijkamp, Peter, 2020. "Hidden linkages between resources and economy: A “Beyond-GDP” approach using alternative welfare indicators," Ecological Economics, Elsevier, vol. 169(C).
    20. Haberl, Helmut & Schmid, Martin & Haas, Willi & Wiedenhofer, Dominik & Rau, Henrike & Winiwarter, Verena, 2021. "Stocks, flows, services and practices: Nexus approaches to sustainable social metabolism," Ecological Economics, Elsevier, vol. 182(C).
    21. Bing Wang & Tianchi Chen, 2022. "Social Progress beyond GDP: A Principal Component Analysis (PCA) of GDP and Twelve Alternative Indicators," Sustainability, MDPI, vol. 14(11), pages 1-18, May.
    22. Chris Haun, 2023. "Closing the First Nations Education Gap in Canada: Assessing Progress and Estimating Economic Benefits - An Update," CSLS Research Reports 2023-01, Centre for the Study of Living Standards.

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