“Acceptance Speech” Frontiers of Knowledge Award 2023 in Economics, Finance and Management

Acceptance speech by Partha Dasgupta, winner of the 2023 Frontiers of Knowledge Award in Economics, Finance and Management, honored for his pioneering contributions to the study of the relationship between economic activity and the natural environment, including biodiversity. His research laid the foundations of environmental economics by incorporating the value of natural capital into the analysis of economic development and sustainability.

Dasgupta reflects on the contradictions of global economic progress, which has improved living standards while causing increasing degradation of ecosystems. He explains why traditional indicators such as GDP fail to account for the depletion of natural capital and advocates a new approach to measuring wealth that includes the value of biodiversity and ecosystem services. He also emphasizes the importance of integrating nature into economic and policy decisions to ensure truly sustainable development.