Research Work

Beyond GDP: A search for supplementation


Context

Since the introduction of GDP as an economic measure, economic progress has been examined to be more concerned with the respective growth of GDP. As a single measure for every indication of the state of life is impossible, GDP supposed not to be expected to play that crucial role. That is why, GDP is important, but not the only aspect for which society should be concerned. On this criticism, a large number of measures has been observed through most of them has been observed to evolve since last decade. And every single measure cannot deny GDP as it has come forward within its respective mandate to materialize for. Beyond numerous counterpart of GDP, three issues are yet to be addressed and they are as follow:


• Sustainability of growth in terms of return to the respective factors of production,

• The basic five right needed issues through Gini style

• Address commonly acknowledged development goals through Gini style


And these measures have been named as below:

1. Gross Sustainability Index (GSI)

2. CI measure of Access to Basic Rights and

3. CI measure of Development


This is expected that these three indicators would provide us with important insights to go further with the development agenda under macroeconomic frameworks for having more prosperous advanced society as well.

M Zakir Hossain Khan

Senior Visiting Research Fellow

MD.Rafiqul Islam

Research Associate

Economy, Trade and Connectivity