The Need for a Rethinking of Sustainability

In this podcast episode, David Runtzmann talks to economists Dieter Helm and Diane Coyle about the history and future of sustainability. They discuss the flaws in measuring economic well-being solely based on GDP and the importance of accounting for all aspects of our actions. Helm emphasizes the need for a new way of measuring economic activity that includes the impact on natural capital, such as atmosphere, soil, and biodiversity. Coyle adds that GDP is an inadequate measure of economic well-being and highlights the importance of considering production as well as consumption in creating a sustainable economy.