When growth is empty: towards an inclusive economics

The pursuit of endless growth and the ensuing global financial crisis have eroded public trust in economic policy. As a result, an increasing number of economists are advocating a more inclusive global economy. The global financial crisis has exposed the weaknesses of the liberalized economic system and resulted in calls for a more inclusive global economy. Leading economists, such as Amartya Sen, are stressing the need for ethics and morality, and culture and context, to be reintroduced into economics. Human well-being, therefore, should be the central goal of economic performance and social progress, and not material welfare. Any new measure of economic performance needs to also assess the value of social provisioning - goods produced by unpaid economic activities, such as household and community production, and unpaid goods and services