Towards the world people use various measures to show development more specifically economic development. Many a time we hear terms like GDP, Per Capita Income, Government Revenue and so on. Are those really show the real condition of an economy? Economy exists for the people. People do not exist for economy.
If people die unnecessarily, then there is no economic progress.
If bright people are sided in a corner, then economic progress is hampered.
For an economy to be sustainable, then basic thing to achieve is enough production of food and food items. Then comes the build up of infrastructure. Recently there was a huge fire accident in a market in Dhaka city. Sadly the losses could be minimized to a greater extent with the usage of sophisticated fire extinguishing tools. But the tools are not made available here. All the economic activities are for the betterment of the people. No improvement, no economic development. Rather than using traditional economic indicators, we need to use something breakthrough. Citizen Lifetime Value can be introduced to realize the human potential of a country's citizens and improve quality of life.
MBA (UPM, Malaysia), Visiting Scholar (UoM, Japan), BBA (University of Dhaka, Bangladesh).
Lecturer in Finance
Department of Entrepreneurship
Daffodil International University
Daffodil Business Incubator Building
Dhanmondi, Dhaka 1207, Bangladesh