Economic growth has lifted hundreds of millions of people out of poverty and improved the lives of many more over the last half-century. Yet it is increasingly evident that a model of human development based on economic progress alone is incomplete. A society which fails to address basic human needs, equip citizens to improve their quality of life, protect the environment, and provide opportunity for many of its citizens is not succeeding. Inclusive growth requires both economic and social progress....Economics is about efficiency of means and policy is about effectiveness of means to achieve prioritized and integrated objectives. An economy is the material life-support system for a society. The economy exists for the society and not vice versa.
Project Syndicate
Why Social Progress Matters
Michael Porter | Professor at Harvard Business Schoo and chairman of the Advisory Board to the Social Progress Imperative.
