Worldwide GDP up 50% in 1992-2010

There has been a significant increase of 50 per cent in global wealth between 1992 and 2010, but it rose by only an "anaemic" 6 per cent during this period if measured in terms of sustainable development.

According to the second biennial Inclusive Wealth Report (IWR) released on Wednesday, worldwide GDP during 1992-2010 showed a gain of 50 per cent.

However, when changes in human capital, produced capital and natural capital are considered together, global wealth rose by an "anaemic" 6 per cent over those years, it said.

The Inclusive Wealth Index measures progress towards sustainability, combines changes in human capital, natural capital and produced capital.

In the USA, India and China, for example, wealth measured by GDP from 1990-2010 rose 33 per cent, 155 per cent and 523 per cent respectively, the report said.

When measures of natural, human and manufactured capital are considered together, the USA's Inclusive Wealth rose by 13 per cent, India 16 per cent and China 47 per cent over that time, it added.

The report further noted that human capital, measured in levels of education, skills and abilities, grew just 8 per cent overall worldwide between 1992 and 2010.

Natural capital such as forests, sub-soil resources and other ecosystems,declined by about 30 per cent worldwide in this period.

"Looking beyond GDP and adopting an Inclusive Wealth Index internationally is central to the post-2015 sustainable development agenda being negotiated within the UN Sustainable Development Goals," Partha Dasgupta, Chair of the report's science advisory group, said. 

Photograph: Reuters