Growth obsession is fuelling inequality around world: WEF

Sydney

ECONOMISTS and policy makers are relying too much on gross domestic product as a measure of national performance to the detriment of people's living standards, according to the World Economic Forum (WEF).

Ahead of its annual meeting in Davos, the Swiss-based foundation has sought to counter the focus on short-term growth by developing an alternative metric called the Inclusive Development Index, which rates 103 countries on growth, equity and sustainability.