Those who doubted the findings in 2009 of Wilkinson and Pickett’s ‘The Spirit Level’ may care to revisit the subject of equality in the light of the recent report from Boston Consulting Group.
In BCG’s ‘Sustainable Economic Development Assessment’ we have new methodologies and data for assessing the quality of GDP growth – the extent to which wealth is converted into well-being.
It turns out that countries with high rates of growth are not necessarily able to convert that into societal development whereas other less-GDP-impressive countries seem to have far better mechanisms for raising living standards.
Why should this matter when we seem to have little or no growth? This study arrives at a time when people are drawing lessons from recessionary times and, in facing up to the creative disruptions of the digital economy, are more than ever beginning to appreciate the real role of infrastructure in enabling both wealth and wellbeing.
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