The GDP has historically been used as an indicator of economic performance and, hence, of social progress. However, this aggregate measure cannot capture all social, economic, and environmental dimensions of social progress. The 2008 Commission on the Measurement of Economic Performance and Social Progress, the so-called Stiglitz-Sen-Fitoussi Commission, was key in laying the foundations on the need to rely on additional/complementary indicators to GDP. Since then, various international initiatives have increased the availability, reliability, and granularity of complementary indicators.
In the current context, it is essential that policy makers can broaden the scope of reliable and timely information regarding all dimensions of growth: ecological transition, digital transformation, gender equality and social and territorial cohesion. Quasi real time data is much needed to inform public decisions and to be used ex-ante and not only ex-post in the design, adaptation and review of public support, investments, and reforms.
Keynote address: Joseph Stiglitz, Nobel laureate, Professor, Columbia University (video).
High-level policy roundtable:
- Mathias Cormann, Secretary-General, OECD (videoconference).
- Nadia Calviño, Vice President and Minister for the Economy and Digitalization of Spain.
- Paolo Gentiloni, Commissioner for Economy, European Commission.
- Carmen Reinhart, Senior Vice President and Chief Economist, World Bank Group (videoconference).
Moderator: José Juan Ruiz, Chairman, Elcano Royal Institute.
Concluding remarks: Pedro Sánchez, president of the Government of Spain.
Monday 25 October 2021, from 12:30 to 2:15 pm CEST.