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The Question of Africa’s Economic Sectors and Development Read chapter Read first chapter

2022 | OriginalPaper | Chapter

Sustainable Economic Growth

Author : Madhavi Venkatesan

Published in: The Palgrave Handbook of Africa’s Economic Sectors

Publisher: Springer International Publishing

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Abstract

The prevailing model for economic growth ascribes the value of individuals and environmental resources to their market value. However, quantitative measurements are not able to include qualitative and non-market-based costs and benefits, which may lead to understatement of some values and overstatement of others. Further, the adoption of market-based values, while promoting cultural convergence, may be incongruous with the economic framework of developing countries and may in fact create unanticipated outcomes with respect to unpaid labor. In effect, an increase in measurable economic growth may disproportionately penalize non-wage subsistence workers. This chapter addresses the relationship between GDP-focused growth, unpaid work, and gender with respect to sustainable economic growth in Africa and highlights the opportunity to establish value for work independent of a market-based wage.

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previous chapter Africa Should Discard Mainstream Economic Theory
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Metadata
Title
Sustainable Economic Growth
Author
Madhavi Venkatesan
Copyright Year
2022
Book
The Palgrave Handbook of Africa’s Economic Sectors

Print ISBN: 978-3-030-75555-3

Electronic ISBN: 978-3-030-75556-0

Copyright Year: 2022

DOI
https://doi.org/10.1007/978-3-030-75556-0_40