Stiglitz, Amartya Sen: GDP A Poor Measure Of Growth

11/23/2009 05:12 am ET | Updated May 25, 2011
  • PETER S. GOODMAN nytimes.com

In a provocative new study, a pair of Nobel prize-winning economists, Joseph E. Stiglitz and Amartya Sen, urge the adoption of new assessment tools that incorporate a broader concern for human welfare than just economic growth. By their reckoning, much of the contemporary economic disaster owes to the misbegotten assumption that policy makers simply had to focus on nurturing growth, trusting that this would maximize prosperity for all.

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