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Experts debate the concept of economic growth, questioning its sustainability on a finite planet. They discuss alternative metrics like Doughnut Economics, advocating for well-being over traditional growth models. The podcast explores the need for global cooperation in achieving green growth and reducing environmental impact.
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Quick takeaways
- GDP fails to capture distribution of income and environmental impact, questioning benefits of growth.
- Rethinking the emphasis on GDP growth for societal well-being, equality, and sustainability objectives.
Deep dives
Understanding the Value of GDP and Economic Growth
Gross Domestic Product (GDP) measures the monetary value of goods and services produced in an economy, encompassing consumer spending, investments, government expenditure, and exports. Economic growth is gauged by the increase in the monetary value of goods and services sold annually. However, GDP fails to reflect critical aspects like the distribution of income, the value of natural assets, and the impact on the ecosystem, raising questions about the true benefits of growth on a finite planet.
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