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Rethinking Development: Broadening the Goals and Altering the Approach

In: The Palgrave Handbook of Comparative Economics

Author

Listed:
  • Homi Kharas

    (Brookings Institution)

  • John W. McArthur

    (Brookings Institution
    United Nations Foundation)

Abstract

A new strand of “sustainable development economics” (SDE) is reframing comparative economics. We summarize SDE’s three-part analytical challenge for each society: the need to “re-couple” progress on incomes with objective and subjective measures of human well-being; to “de-couple” progress on incomes from processes of environmental degradation; and to “we-couple” gains in living standards such that no group feels excluded from opportunities for progress. In this multi-dimensional context, economic systems are not judged on a single dimension ranging from “good” to “bad,” but instead relative to the different outcomes they generate across a range of domains. In investigating drivers of outcomes, SDE is agnostic regarding appropriate levels of aggregation and considers societal forces including business, academia, and civil society, in addition to public institutions and policies.

Suggested Citation

  • Homi Kharas & John W. McArthur, 2021. "Rethinking Development: Broadening the Goals and Altering the Approach," Springer Books, in: Elodie Douarin & Oleh Havrylyshyn (ed.), The Palgrave Handbook of Comparative Economics, edition 1, chapter 22, pages 563-588, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-50888-3_22
    DOI: 10.1007/978-3-030-50888-3_22
    as

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