Beyond Growth: Towards A New Economic Approach

From the OECD:

“Launched in May 2015, OECD Secretary-General Angel Gurría’s ‘21 for 21’ proposal called for consolidation and further transformation of the OECD by ‘redefining the growth narrative to put the well-being of people at the centre of our efforts.’

To contribute to this debate, in 2018 the Secretary-General commissioned an Advisory Group on a New Growth Narrative to examine how economic, social and environmental considerations could be integrated in a coherent approach. Acting in a personal capacity, the Advisory Group comprises Andy Haldane, Michael Jacobs, Nora Lustig, Mariana Mazzucato, Robert Skidelsky, Dennis Snower and Roberto Unger.1 The Group has sought to bring together in a single, short and readable document the various strands of new economic thinking curated over recent years by the New Approaches to Economic Challenges (NAEC) initiative. Beyond Growth: Towards a New Economic Approach is their draft report.

The report was written and coordinated by Michael Jacobs, with research assistance by Merve Sancak at the Sheffield Political Economy Research Institute. The project has been overseen by the OECD Chief of Staff and Sherpa, Gabriela Ramos, who has responsibility for NAEC in the OECD Secretariat, with the support of William Hynes.

The report attempts to synthesise a wide range of reflection on new ways of thinking about economic policymaking. It encompasses a new set of goals and measures of economic progress; new frameworks of economic analysis; and new approaches to policy.

While reactions from OECD members are strongly welcomed, this is not an OECD report requiring approval. Nor is it exhaustive in the content covered. Focusing on the challenges facing OECD countries, it builds on New Approaches to Economic Challenges: Towards a New Narrative presented at OECD Week in 2017 and Elements of a New Growth Narrative (SG/NAEC(2018)1) discussed at the NAEC Group meeting in September 2018 marking 10 years after the collapse of Lehman Brothers.

The objective of this draft document is to receive feedback and comments from the different OECD Policy Committees and Members that will participate in the NAEC Group meeting of 17-18 September, and to continue the dialogue with NAEC partners and thinkers outside the OECD.

The opinions expressed and the arguments employed herein do not necessarily reflect the official views of OECD member countries, nor any institution with which the contributors may be affiliated.”

Continue reading here.

Posted by at 1:47 PM

Labels: Inclusive Growth


Subscribe to: Posts