Growth versus development (Manfred Max-Neef)

Manfred Max-Neef believes that economists are fixated with growth for growth’s sake. As a result, they overlook the qualitative values essential to human development. Whereas growth is quantitative, qualitative values leading to the development of human well-being and happiness are harder to measure but of equal importance says Max-Need. For a more detailed explanation of his point: Max-Neef, M. A. (1995). Economic growth and quality of life: A threshold hypothesis. Ecological Economics15(2), 115-118. For a similar point, see Growth versus development (Herman Daly)). For an explanation from a psychological perspective, see The paradox of freedom of choice (Barry Schwartz).

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