THE WORLD WANTS BETTER ECONOMICS

Public Backing for Going Beyond GDP Remains Strong: Global Poll

29 May 2013 (Ethical Markets)

“The public around the world remains strongly in favour of replacing GDP with a broader way of reporting national progress, according to a new global poll…conducted by GlobeScan on behalf of Ethical Markets, business think tank Tomorrow’s Company and the ICAEW…It shows that…68 percent of citizens on average - in the countries surveyed favour replacing GDP with a broader indicator embracing health, social and environmental statistics as well as economic ones. Twenty-three per cent would rather retain a focus on money-based economic statistics.

“The survey was previously conducted in 2010 and 2007. This year’s results show that while globally the proportion favouring going ‘beyond GDP’ has not changed since 2010, there were some significant shifts in individual countries…The proportion of the public favouring measuring national progress using non-economic factors grew significantly in China (up by 12 points to 80%), the UK (up 11 points to 81%) and Australia (up 10 points to 81%)…”

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“…India (where 44% want to see a new system), Kenya (43%) and Germany (57%) are the most sceptical of change…In 2010 Germany and Brazil were with the countries with the largest margins favouring a new system of measuring national progress. But this year public opinion there has swung significantly in favour of a traditional money-based approach. Thirty-four percent in Germany and 32 percent in Brazil now prefer keeping a focus on money-based statistics…”

[Tony Manwaring, Chief Executive, Tomorrow’s Company:] “Value creation has changed fundamentally in the Age of Sustainability, it must now integrate economic, social and environmental factors in order to deliver in the long-term. If this is true for companies and investors, then it is even truer for countries…As Bobby Kennedy put it many years ago, GDP 'measures everything, in short, except that which makes life worthwhile'. We welcome these findings as big step taken on the road for measuring what matters for the sake of people, planet and profit.”

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