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Business by numbers can dull creativity of workforce -BusinessDay-

Fioramonti’s article this week focuses on the dangers on relying on simplified figures such as GDP to assess the development and the wealth of a country and make business decisions.

“When businesses base investment decisions on indicators such as the gross domestic product (GDP) they miss the forest for the trees. GDP is a very myopic measure of economic performance, which counts profits but excludes costs. Moreover, it flattens society and the market, thus giving the impression that growth affects all businesses (and people) in the same manner. In fact, there can be good and bad, equal and unequal, sustainable and unsustainable GDP growth.

“The “Africa rising” debate animating the investment community these days is a case in point, insofar as it does not pay attention to issues of sustainability and distribution, which are likely to hamper the performance of these “rising” economies. “

“Even good numbers can be misleading: indeed, numbers, by design, (over)simplify reality. In a numbers-driven world, only what can be measured counts. A metric-dependent business is more likely to forfeit long-term goals, which are harder to quantify, for short-term returns.”

Read it all on BusinessDay

Lorenzo Fioramonti at the Free University in Berlin

“How numbers rule the world” at Free University, Berlin

On 4 September 2014 GovInn director Lorenzo Fioramonti presented his latest book “How numbers rule the world” at the Free University in Berlin. The lecture was organised by The Berlin Forum On Global Politics

2013-2015 – ATLANTIC FUTURE: Towards an Atlantic area? Mapping trends, perspectives and interregional dynamics amongst Europe, Africa and the Americas 

atlantic future
The Atlantic can be considered the cradle of modern globalisation, a space where links between peoples, nations and economies started first to transcend their regional contexts on a large scale. As globalisation enters a new phase characterised by the rise of developing economies, and as global challenges such as the economic crisis, food security, climate change, energy scarcity and security in the high seas become more urgent, the states and regions around the Atlantic look at their counterparts across the ocean with renewed interest.
ATLANTIC FUTURE, is a research project designed to map the transformation of the Atlantic, bringing together data-based evidence and a plurality of perspectives from across the Atlantic rim.

The conceptualisation and characterisation of an ‘Atlantic area’ within broader international relations is a starting task for the project. Identifying the drivers for, and obstacles to, cooperation, competition and conflict; mapping the new trends and projecting them into future scenarios and identifying opportunity for sustainable growth and for jointly addressing common challenges are equally important objectives of a collaborative research that will bring together first-class research institutions from the Atlantic.

GovInn researchers: Lorenzo Fioramonti (leader), Camilla Adelle, Andreas Godsaeter, John Kotsopoulos, Frank Mattheis.

Partner institutions: CIDOB (Barcelona Centre for International Affairs – Spain), Johns Hopkins University (USA), Friedrich Alexander University (Germany), University of Lisbon (Portugal), Getulio Vargas Foundation (Brazil), Ecologic Institute (Germany), Centro de Investigación y Docencia Economica (Mexico), German Marshall Fund (Belgium), Istituto Affari Internazionali (Italy), Fundación Para Las Relaciones Internacionales y El Dialogo Exterior (Spain).

Funding: European Union FP7 Programme.

Funding period: January 2013 to December 2015

Next events: Dissemination events in Brussels, Washington D.C. and Rio de Janeiro (October to December 2015)

Website: www.atlanticfuture.eu

VIDEO: The Dark Side of GDP and Why It Matters for Africa’s Future

Lorenzo Fioramonti gave the inaugural address for the Expert Lecture Series 2013 at the University of Pretoria on 14 March. The title of the talk is “The Dark Side of GDP and Why It Matters for Africa’s Future”. For more info, visit NEW ECONOMIC GOVERNANCE, one of the pillars of GovInn work on Governance Innovation.