Jaipur Literature Fest: Author Joseph E. Stiglitz explains more about GDP

Jaipur, Feb 22: The Jaipur Literature Festival, that is known as the "greatest literary show on Earth", is a sumptuous feast of ideas. Each year, several world's greatest writers, humanitarians, politicians, business leaders and entertainers are welcomed on one stage to champion the freedom to express and engage in thoughtful dialogue.

This year, OneIndia and Dailyhunt are the proud partners as live streaming partner and digital media partner respectively for the Jaipur Literary Fest 2021.

Earlier, the fest witnessed Congress MP Shashi Tharoor in conversation with Harvard University Professor Michael Sandel where the two spoke about the book "The Tyranny of Merit: What's Become of the Common Good?" that shows the polarised politics of time reflecting the deep divide between winners and losers.

In its latest session on "Measuring What Counts: The Global Movement for Well-Being", this volume successfully explains what GDP does not and cannot measure well and suggests that countries should publish a dashboard that measures what is really important.

Author Joseph E. Stiglitz propose 67 indicators that would present a more complete picture of the health of a national economy. Although these are useful measures, many countries would find it a challenge to collect and maintain such thorough statistics.

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During the discussion, Stiglitz said that book provides an accessible overview of the last decade's global movement, sparked by the original critique of GDP, and proposes a new "dashboard" of metrics to assess a society's health, including measures of inequality and economic vulnerability, whether growth is environmentally sustainable, and how people feel about their lives.

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The 14th edition of the Jaipur Literature Festival 2021 (JLF) has also followed suit of virtual. The festival took place in a virtual avatar from February 19, and will end on 21. The fest will again resume from February 26 to 28.