In 2000 commentators everywhere were hailing the boom in some western economies as the dawn of a new economy. In 2001, with a slowdown biting in the US economy, dot.coms folding and information and communications technology firms feeling the pinch globally, the headline writers have swung the...

Until recently, governments have measured economic progress by tallying such statistics as GDP, inflation and balance of payments. Today they agree that economic expansion should be socially and environmentally sustainable. Hence measuring progress towards sustainable development is essential to...