The Time Has Come for Multi-dimensional Development Metrics – India’s G20 Presidency
By G A Tadas, Visiting Fellow, Research and Information System for Developing Countries (RIS), New Delhi, India. Views expressed are personal.
GDP has long served as the key indicator of a country’s development, but is this the only factor that matters in citizens’ lives? Does more money categorically result in better lives? The India G20 presidency is looking for other metrics to complement these measures.
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The OECD has long argued that the ultimate goal of public policies is to improve the quality of our lives. But what makes us happy? Does living in a country guaranteeing equal rights and opportunities to women and men increase people’s happiness? The answer apparently is yes.