In this film on the Stockholm Statement, Nobel Laureate Professor Joseph Stiglitz, the DPRU's Professor Haroon Bhorat, Professor Kaushik Basu, Professor Justin Lin, Professor Sabina Alkire and Professor Finn Tarp, as well as Sida’s Chief Economist Susanna Gable, describe the background to the statement of consensus reached, following their discussions around: "Towards a new consensus on the principles of policy-making for the contemporary world".
The Stockholm Statement was developed as a result of a conference in Stockholm in September 2016, hosted by Sida. The initiative was taken by Joseph Stiglitz, and the then Chief Economist of the World Bank, Kaushik Basu, who also led the conference and the development of the Statement. Professors Stiglitz and Basu invited 11 leading development economist to the conference. The Statement is a response to the increased awareness that some of the recommendations of traditional economics are no longer valid. The Statement includes 8 principles for inclusive and sustainable development and reflects a broad development agenda including environmental sustainability, inclusiveness, as well as social norms and mindsets.