At a time when countries across the world are striving to accelerate the pace of growth in gross domestic product (GDP), the fourth round of the Organization for Economic Co-operation and Development (OECD) World Forum will centre around measuring well-being in an economy by looking beyond this measure.
The forum is to have its meeting for the first time in this city, between October 16 and 19, on the theme of ‘Measuring well-being for development and policy making’. It is the first time the meet would be in a developing country.
The aim is to develop a more comprehensive view of progress, taking into account economic, social and environmental concerns, rather than only focusing on economic indicators. “Except for economic indicators, getting everyone to agree on one indicator is difficult. However, holding these dialogues will help at developing an indicator that best measures development and look beyond the conventional GDP,” the Government of India’s chief statistician, T C A Anant, said while briefing reporters.
Bhutan has a Gross Happiness Index to measure the happiness quotient in the country. Its minister of works and human settlement, Yeshey Zimba, will speak on the future of development goals. Economists, policy makers, civil society representatives and statisticians from across the globe are to discuss indicators that could measure sustainability, human development and quality of life. The importance of measuring well-being and happiness for effective policy making will also be the sub-theme of the forum.
The first OECD forum was held in Italy in 2004, the second in Turkey in 2007 and the third in South Korea in 2009.
Speakers in the Delhi forum will include Nobel laureate Joseph Stiglitz, former President Abdul Kalam, Planning Commission deputy chairman Montek Singh Ahluwalia and OECD secretary general Angel Gurria, among others.India is not part of the 34-member OECD but is associated with its efforts to streamline systems to counter black money.