Tracking Economic Complexities Amidst the Shift Towards a Low-Carbon Economy

In a recent article published on an unspecified website, Claudia Gerhards explores the potential risks associated with the transition of GDP as a key economic indicator. The author, Gerhards, draws upon the expertise of Dirk Schoenmaker, a renowned economist in the field.

Dirk Schoenmaker, a Non-resident Fellow at the website, holds a PhD in economics from the prestigious London School of Economics. He is also a Professor of Banking and Finance at Rotterdam School of Management, Erasmus University Rotterdam, and a Research Fellow at the Centre for European Policy Research (CEPR).

Schoenmaker's extensive career in finance and economics includes serving as Dean of the Duisenberg school of finance from 2009 to 2015. Prior to this, he served at the Netherlands Ministry of Finance from 1998 to 2008 and at the Bank of England in the 1990s.

Schoenmaker's published works span various areas, including sustainable finance, central banking, financial supervision and stability, and European financial integration. He is the author of 'Governance of International Banking: The Financial Trilemma' (Oxford University Press) and a co-author of the textbooks 'Financial Markets and Institutions: A European perspective' (Cambridge University Press) and 'Principles of Sustainable Finance' (Oxford University Press).

In addition to his academic contributions, Schoenmaker is a regular consultant for the IMF, the OECD, and the European Commission. His insights and expertise are highly sought after in the field of economics.

In the article, Schoenmaker warns of the potential risks that could arise during the transition from GDP as a primary economic indicator. He emphasises the need for a more comprehensive approach to measuring economic success, one that takes into account factors such as environmental sustainability and social wellbeing.

Schoenmaker's warnings serve as a call to action for policymakers and economists alike, urging them to consider the long-term implications of their decisions and to prioritise a more balanced approach to economic growth. As the world continues to grapple with the challenges posed by climate change and social inequality, Schoenmaker's insights offer a valuable perspective on the path forward.