Beyond an economic vision of development

Aug 15, 2024 Features / Columnists, Peeping Tom

Kaieteur News – The rhetoric of what constitutes progress is often tied to the language of economics.

In Guyana, intellectually bankrupt leaders have tried to convince us that road to prosperity is paved with the bricks of GDP growth, foreign direct investment, and infrastructural expansion.

The vision is one of gleaming cities, bustling marketplaces, and a rising standard of living. These however are not always quantified. Yet, amid this flurry of numbers, one critical element is frequently overlooked—the human person. The end product of development is not the economy; it is the individual, the living, breathing human being who must inhabit the society that is being built. And this person is not simply an economic entity; their essence cannot be captured by economic metrics alone.

The idea that an economic vision alone can drive meaningful development is a seductive one. It offers a sense of control, a way to measure progress in clear, objective terms. Yet, this focus on economics risks reducing the human person to a mere statistic, a unit of production or consumption whose value is determined by their contribution to the economy. In this view, development becomes a matter of increasing output, raising income levels, and ensuring that the machinery of the economy runs smoothly.

But the human person is not a cog in the economic machine. They are a complex, multifaceted being whose needs extend far beyond the material. The satisfaction of basic needs—food, shelter, clothing—is indeed a prerequisite for human development, but it is not the end point. While the satisfaction of basic needs is undoubtedly crucial, it is important to recognize that it is only the starting point, not the destination. Human development begins with the provision of food, water, shelter, and healthcare, but it must go beyond these necessities. Once basic needs are met, the focus should shift to the higher-order needs that contribute to a person’s overall well-being—education, meaningful work, social connection, and personal fulfillment.

To understand the true nature of development, we must look beyond the economic vision and embrace a broader, more humanistic understanding of what it means to live well. At the heart of the humanistic vision is the recognition that human beings are not merely economic actors. We are social creatures, emotional beings, spiritual entities, and ethical agents. Our well-being is not solely determined by our material circumstances; it is also shaped by our relationships, our sense of purpose, our capacity for joy, and our ability to live in accordance with our values. Development, therefore, must encompass not only the satisfaction of basic needs but also the cultivation of these deeper aspects of human existence.

The humanistic vision of development asks us to consider questions that cannot be answered by economics alone: What makes life meaningful? What brings happiness? What allows a person to flourish? These are not matters that can be left to economists or policy makers to decide through metrics and models. They require a broader perspective, one that draws on philosophy, psychology, ethics, religion and the arts—disciplines that explore the full range of human experience.

The limitations of economic metrics become evident when we consider the complexity of human well-being. Take, for example, the concept of happiness. Economists may attempt to measure happiness through surveys and indices, but these efforts often fall short. Happiness is a deeply subjective experience, influenced by a wide range of factors—relationships, work, health, community, and even spirituality. It is not something that can be fully captured by a single number or formula.

Moreover, the pursuit of economic growth can sometimes lead to outcomes that are detrimental to human well-being. The paradox is that the very tools we use to measure development can blind us to the true end of development: the flourishing of the human person. As we look to the future, it is clear that a purely economic vision of development is insufficient. We need a broader, more inclusive approach that recognises the full range of human needs and aspirations. This means rethinking our priorities, our policies, and our metrics. It means embracing a vision of development that is not only about economic growth but also about human flourishing. The true end point of development is the creation of a society where every individual has the opportunity to live a good life—a life that is rich in meaning, purpose, and happiness. This is the vision of development that we must strive for, one that places the human person at the center of our efforts and recognizes that the ultimate goal of development is not economic but human. This is why we need to turn to the humanities to help shape our vision of the future, one that places the human person above everything else.

(The views expressed in this article are those of the author and do not necessarily reflect the opinions of this newspaper.)

• expansion, foreign, GDP growth, infrastructural, Peeping Tom