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Sustainable Economic Growth

In: The Palgrave Handbook of Africa’s Economic Sectors

Author

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  • Madhavi Venkatesan

    (Northeastern University)

Abstract

The prevailing model for economic growth ascribes the value of individuals and environmental resources to their market value. However, quantitative measurements are not able to include qualitative and non-market-based costs and benefits, which may lead to understatement of some values and overstatement of others. Further, the adoption of market-based values, while promoting cultural convergence, may be incongruous with the economic framework of developing countries and may in fact create unanticipated outcomes with respect to unpaid labor. In effect, an increase in measurable economic growth may disproportionately penalize non-wage subsistence workers. This chapter addresses the relationship between GDP-focused growth, unpaid work, and gender with respect to sustainable economic growth in Africa and highlights the opportunity to establish value for work independent of a market-based wage.

Suggested Citation

  • Madhavi Venkatesan, 2022. "Sustainable Economic Growth," Springer Books, in: Evelyn F. Wamboye & Bichaka Fayissa (ed.), The Palgrave Handbook of Africa’s Economic Sectors, pages 1019-1038, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-75556-0_40
    DOI: 10.1007/978-3-030-75556-0_40
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