Hallstead, Ted and Cobb, Clifford, “The Need for New Measurements of Progress,” in Mander, J., & Goldsmith, E. (1996). The case against the global economy: And for a turn toward the local. San Francisco: Sierra Club Books.
Short synopsis of the article: The authors seek to discover why people and politicians are still focused on the obsolete economic measurement, GDP. Beginning by discussing the economic boom of the 1990s, Hallstead and Clifford explain that while Allen Greenspan was assuring the media that the economy was in great shape many Americans were wondering why they were working longer hours with seemingly ...
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Article Summary
The article sheds light on how large corporations such as Enron and WorldCom have been involved in malpractices related to the way these corporations were run. Both Enron and WorldCom were guilty of ignoring the demands of the stakeholders. Therefore, there is a strong need for major changes in the way such corporations are run, and for environmental and social factors to be kept in mind. One way of pleasing all parties is through a process called Socially Responsible Investing or SRI. SRI does not mean that businesses ignore the financial side of things and safeguard social and environmental factors at the ...
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