How can you creatively think about economic growth and development?

1 Think multidimensionally

Economic growth and development are not just about numbers, but also about the quality and distribution of opportunities, resources, and capabilities. A multidimensional approach considers how different aspects of well-being, such as health, education, environment, social inclusion, and political participation, interact and affect each other. For example, the Human Development Index (HDI) combines income, life expectancy, and education to measure the level of human development across countries. The Multidimensional Poverty Index (MPI) identifies the multiple deprivations that poor people face in health, education, and living standards.

2 Think creatively

Economic growth and development are not only driven by markets, policies, and institutions, but also by ideas, innovations, and cultures. A creative approach explores how human creativity and imagination can generate new solutions, products, and services that enhance well-being and productivity. For example, the creative economy is a concept that recognizes the economic potential of the cultural and creative industries, such as arts, media, design, and entertainment. The creative class is a term that describes the group of workers who use their knowledge, skills, and talent to create economic value and social change.

3 Think systemically

Economic growth and development are not isolated from the natural and social systems that sustain them, but rather depend on and impact them. A systemic approach examines how economic activities interact with the ecological, social, and institutional systems that shape and constrain them. For example, the circular economy is a vision that aims to reduce waste and pollution by designing products and processes that are regenerative and restorative. The social economy is a sector that encompasses organizations and enterprises that pursue social and environmental goals through democratic and participatory practices.

4 Think locally

Economic growth and development are not uniform across regions, communities, and individuals, but rather vary according to the local context and conditions. A local approach recognizes the diversity and specificity of the economic realities and opportunities that different people face. For example, the local development paradigm emphasizes the role of local actors, such as governments, businesses, civil society, and citizens, in identifying and mobilizing the endogenous resources and potentials of their territories. The local innovation system is a network of actors and institutions that support and facilitate the generation and diffusion of innovations within a specific geographic area.

5 Think globally

Economic growth and development are not independent from the global trends and challenges that affect them, but rather influenced by and contribute to them. A global approach acknowledges the interdependence and interconnectedness of the economic actors and issues across the world. For example, the global value chain is a framework that analyzes how different stages of production, distribution, and consumption of a product or service are coordinated across countries and regions. The global public good is a good or service that benefits all or most of the people in the world, such as peace, security, health, and environment.

6 Think critically

Economic growth and development are not neutral or objective, but rather contested and normative. A critical approach questions the assumptions, values, and interests that underlie the economic theories, models, and policies. For example, the heterodox economics is a branch of economics that challenges the mainstream or orthodox economics by offering alternative perspectives, methods, and paradigms. The post-development critique is a movement that rejects the idea of development as a universal and desirable goal, and instead proposes diverse and plural ways of living and being.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?