Measuring the Wealth of Nations explained by Sir Partha Dasgupta

A conceptual framework which provides for a unified language for sustainability and policy analysis with regards to measuring the wealth of nations, was the focus of a talk held yesterday afternoon at the State House, in Reduit.

The talk entitled Measuring the Wealth of Nations was delivered by Frank Ramsey Professor Emeritus of Economics, Faculty of Economics, University of Cambridge, UK, Sir Partha Dasgupta FBA FRS. The President of the Republic, Dr Ameenah Gurib-Fakim, and other eminent personalities, attended the event organised by the Office of the President, the British High Commission and the British Council. The British Council held its first Alumni Awards for Mauritian students following the talk.

In her introductory remarks, President Gurib-Fakim highlighted Sir Daspupta's expertise and knowledge in the field of economics, which she said, is key to understanding the notions of measuring the wealth of nations. Sir Dasgupta's publications showcase how poverty can be interpreted as low levels of wealth rather than low levels of income, she pointed out. His works demonstrate that the concept of wealth extends the idea of investment beyond its conventional usage, she added.

The talk

During his presentation, Sir Dasgupta explained that economic growth can be defined as growth in wealth, which is the social worth of an economy's entire stock of capital assets, not growth in GDP, nor improvements in the ad hoc indicators of human development that have been proposed in recent years.

Capital assets, he underlined, include reproducible capital, human capital and natural capital. He showed a sketch of recent publications that have used the perspective to track wealth accumulation in contemporary India, and more tentatively, in a sample of over 120 countries.

British Council's Alumni Awards

The first edition of the Alumni Awards targeted Mauritian students who have used their experience of studying at a UK university to make a positive contribution to their country.

Ten finalists were retained under the two categories of awards, namely: Social Impact Award; and Professional Achievement Award. Mr Vashil Avinash Jasgray was the winner for the Social Impact Award, while Mrs Neelam Ramsaran-Jogeea received the Professional Achievement Award.

About the Study UK Alumni Awards

The Alumni Awards were developed by the British Council and UK universities and were launched by the Council in September 2014. They are open to alumni who have studied in the UK, and currently residing in any country outside the UK.

The Awards celebrate and showcase the impact and value of a UK higher education and raises the profile and reputation of UK alumni, their former universities, and UK education as a whole.

Source: Government of Mauritius