Need for New Theory

A multidisciplinary group from the World Academy of Art & Science and the Club of Rome are leading a quest for a new human-centered theory of economics that reflects recent changes resulting from the emergence of a service-based economy, globalization, rising social aspirations and changing values, and is integrated with political, social, ecological, technological, and cultural factors from which it is inseparable.
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Economic Indicators

Advances in theory and measurement must necessarily proceed hand in hand. There is an urgent need for development of economic indicators to reliably measure sustainable human welfare. The Human Economic Welfare Index (HEWI) is a composite index of sustainable economic welfare that incorporates household consumption, personal savings, income inequality, employment, education and energy efficiency.
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Working papers on HEWI project