Policymakers Should Include Living Standards in Economic Measures

The initial news from the World Economic Forum, now taking place in Davos, Switzerland is different, for a change. Instead of the usual avalanche of large numbers about the progress of globalization as measured by rising gross domestic product and growing exports, the WEF’s Inclusive and Development Report 2017 highlights that the way a country evaluates economic growth “must be re-imagined,” according to CNBC. “Policy makers must reconnect with increasingly frustrated citizens and consider a wider breadth of economic tools.” Sounds like the heated winds of economic inequality that are scorching elites are also melting the chilly charts of the movers and shakers—who now seem to be more moved and shaken by the current wave of populist-driven upheaval. That’s a good thing.

John Howell, Editorial Director

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