Tag: GDP

Class and need: Social surplus and Marxian theorization of development

sanjay perera

by Anjan Chakrabarti We know that there have been two paths of development, paths that are not always considered complementary to one another. The first and still the dominant path would contemplate economic growth as the basic indicator of capturing the increase in standard of living (either measured as GDP per capita or GDP per worker) which represents development of a nation or region; thus poor and rich countries are differentiated in terms of, say, the level of GDP per capita and resultantly, the path to development of poor countries lie in expanding the latter as fast as possible. High … Continue reading Class and need: Social surplus and Marxian theorization of development

China at century’s end

sanjay perera

by Salvatore J. Babones One year ago I published an article in Foreign Affairs magazine predicting that China’s outsized rate of economic growth would soon slow down to the levels that are typical of other middle-income countries like Mexico, Brazil, and Russia.  Foreign Affairs published my article under the punning but (in my view) inappropriate title “The Middling Kingdom.”  There is nothing middling about China: it is the world’s largest country, the center of one of the world’s great civilizations, and in many ways the most important place on Earth.  But will its economy continue to grow at 10% per … Continue reading China at century’s end

The economics of well-being

sanjay perera

by Mark Anielski I have a dream: to design, build and enhance economies of well-being around the world. It is time for a complete overhaul of our national accounting systems that for over 60 years has measured progress too narrowly according to how much money changes hands as measured by the GDP (gross domestic product). I believe it is time to develop economies of well-being based on the known determinants of happiness and by measuring the things that contribute most to the well-being of human beings and nature. This new accounting system that measures the conditions of well-being must be … Continue reading The economics of well-being

Justice for all and the European Union

sanjay perera

by Philippe Van Parijs When we are thinking about how the European Union should evolve, what competences it should be given, what direction it should take, what is the ultimate objective? The answer is simple: justice. But what is justice? Any conception of justice relevant for our times must combine two elements, both strongly rooted in our European traditions, but neither of them exclusive to them: equal respect for the diversity of conceptions of the good life that characterizes our pluralist societies and equal concern for the interests of all members, present and yet to come, of the society concerned. … Continue reading Justice for all and the European Union