The use of GDP, against sustainable development

Natacha Bourova and Jacques Fontanel ()
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Natacha Bourova: UNECON - Saint-Petersburg State University of Economics (.)
Jacques Fontanel: CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UGA - Université Grenoble Alpes - IEPG - Sciences Po Grenoble-UGA - Institut d'études politiques de Grenoble - UGA - Université Grenoble Alpes

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Abstract: GDP is the most widely used economic aggregate to compare, over time and space, the development of the national economy. International experts usually refer to this indicator to comment on the national economy. Its weight is important in determining the classification of countries according to their degree of development among developed countries. However, the limitations of GDP are both technical and conceptual. Real GDP (removing the effects of inflation) per capita does not refer to the productive and redistributive inequalities of economic actors. It does not include bad goods, pollution and it does not account for many free activities. The unique or dominant reference to GDP is dangerous. Economic actors should no longer be encouraged to go in the direction of an unsustainable form of growth. It is necessary to have indicators on democratic freedoms, citizen solidarity, cultural influence, the rise of the digital economy and artificial intelligence. It is also essential to count the negative effects of growth and their discounted costs, such as the definitive disappearance of certain raw materials, the influence of pollution on the people concerned and, in international relations, its effects on neighboring countries.

Keywords: GDP; Sustainable development; Public goods; PIB; Développement durable; Biens publics (search for similar items in EconPapers)
Date: 2021-12-14
New Economics Papers: this item is included in nep-cwa, nep-env and nep-mac
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Published in Economic statistics and sustainable development, St. Petersburg State University of Economics (UNECON), Dec 2021, Saint-Petersbourg, Russia

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