A Post-GDP World? - Rethinking International Politics in the 21(st) Century
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Date
Authors
Fioramonti, Lorenzo
Journal Title
Journal ISSN
Volume Title
Publisher
Wiley
Abstract
In contemporary politics, the power and status of a country are intimately connected with its economic wealth. In particular,
GDP has become the benchmark by which the global pecking order is defined. Initially designed as a mere survey of a
nation’s income, GDP has become an ordering principle in international governance. Yet the convergence of socioeconomic,
environmental and energy crises currently questions the sustainability of GDP maximization and its political relevance,
strengthened by a growing consensus among policy makers and experts that GDP is an inadequate metric of economic success.
As countries move beyond GDP and new indicators are introduced, the overall international political order may also
change. In particular, some non-G7 countries may emerge as global leaders in wellbeing, prosperity and sustainable development.
We may be witnessing a gradual shift to a new Bretton Woods, possibly leading to a profound restructuring of globalization
with the emergence of new forms of supranational regionalism in which more equitable and sustainable economies
will play a leading role.
Description
Keywords
Global governance, Power, Alternative indicators, Sustainable regionalism, Gross domestic product (GDP)
Sustainable Development Goals
Citation
Fioramonti, L 2016, 'A Post-GDP World? - Rethinking International Politics in the 21(st) Century', Global Policy, vol. 7, no. 1, pp. 15-24.