CII Naoroji Godrej Centre of Manufacturing Excellence

News and Update

GDP is not a good measure of economic performance : Joseph Stiglitz, Economist

13 Apr 2016

Nobel Prize winning economist Joseph Stiglitz, IMF head Christine Lagarde and many others believe that GDP is an incorrect indicator of performance for any economy, as GDP needs to include both economic and social performances of a country.

In face of the Fourth Industrial Revolution, there is a need to find a new measure to assess thehealth of our economies and – more importantly – the people living in them.

The three key questions that GDP overlooks and needs to consider is growth fair, is it green, and is it improving our lives?

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