Alex Edmans, Professor of Finance at London Business School, appeared in a livestreamed expert session at the World Economic Forum’s (WEF) Annual Meeting of the Global Future Councils 2023 in Dubai.
The panel, ‘What Kind of Growth Do We Need to Sustain Our Future?’, scrutinised the long-held assumption that economic growth is the best measure of a nation’s prosperity.
Speaking at the event, Professor Edmans - a member of WEF’s Global Future Council on the Future of Responsible Investing - said: “Growth is critical to increase social welfare and contribute to human flourishing, but we need to recognise that growth can be in many different types of capital.
“You can have growth in physical capital, but there’s also growth in human capital. There’s also growth in natural capital, such as environmental preservation and restoration. And finally, growth in financial capital, allowing people to save for the future.”
The Annual Meeting was attended by over 400 members of WEF’s Global Future Councils, of which only 25 were selected as speakers.
Fellow panellists included Sandor Mulsow, Professor, Austral University of Chile, Masood Ahmed, President, Center for Global Development, and Kumi Kitamori, Deputy Director, Environment Directorate, Organisation for Economic Co-operation and Development (OECD). The session was moderated by Vijay Vaitheeswaran, Editor, Global Energy and Climate Innovation, The Economist.
Watch the full session.