Ghosh Essay on GDP’s Alternatives Short-Listed for Indigo Prize Honors

LONDON, 14 February — The Indigo Prize, an international essay designed to explore new ways to measure the modern global economy, has judged Dr. Indranil Ghosh’s essay “Production to Prosperity” as one of its top ten entries.

The Indigo Prize, awarded annually, challenged entrants to consider how to discuss the shortcomings of Gross Domestic Product (GDP) as a measure of economic activity in a 21st Century economy, and to propose alternative methodologies. The prize aims to stimulate debate about how to measure the health, size and growth of a modern economy.

Entrants were asked to submit a 5,000-word answer to the following question: How would you design a new economic measure for global economies that fully acknowledges not only social and economic factors but the impact of creativity, entrepreneurship and digital skills? Dr. Ghosh, a widely known investment advisor and CEO of Tiger Hill Capital, is a former chief investment strategist at Mubadala and previously held senior posts at Bridgewater Associates and McKinsey & Company. His Indigo essay proposed a more contemporary and cross-disciplinary method for measuring and managing prosperity in lined with his own Seven Principles of Prosperity:

  • Inclusive governance
  • Universal basic provision
  • Socio-economic value creation
  • Humans amplifying technology
  • Innovation, connectivity, entrepreneurship
  • Operating within sustainable limits
  • Security and stability

The Indigo Prize saw a wide range of entries: Leading worldwide academics, teachers, engineers, entrepreneurs and students. The judging panel included luminaries from the world of economics, business and finance, including former Goldman Sachs Chief Economist Jim O’Neill, former Standard Chartered CEO and UK Trade Minister Evan Davies, and McKinsey & Co. Global Managing Partner Dominic Barton. Essays were judged on five criteria:  relevance to the question, creativity, feasibility, quality of writing and the structure of the essay.

Dr. Ghosh’s essay and those of other finalists were published in the Global Perspectives Journal in early January.