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Artigo

15 Jan 2017

Author:
Bloomberg

World Economic Forum says living standards better growth gauge than GDP

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Developed and developing countries alike should emphasize living standards over absolute growth as the best measure of economic performance, according to the organizers of the annual World Economic Forum. Per-capita median incomes declined by 2.4 percent between 2008 and 2013 across 26 advanced economies, the forum said in a report released Monday, highlighting the "insecurity and inequality accompanying technological change and globalization." Countries should gauge their economic progress based on "inclusive development" and increase spending on programs like job training to ease the burden of inequality, the report said...To reverse slides in living standards, the forum said governments need to prioritize education, gender parity and smoothing the transition from school to work, as well as expanding infrastructure. Additionally, it said economic integration should be re-focused to emphasize making it easier for companies to trade within countries as well as between them, particularly for small and medium-sized firms...

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