"This publication is based on a lecture presented on April 2, 2012."

Includes bibliographical references: 25.

"We are currently dealing with a global financial crisis far more serious than just a temporary drop in business activity and a decline in absolute production levels. Traditionally, these have been measured using Gross Domestic Product (GDP), and this measure should be gradually abandoned and replaced by the superior measures of sustainable social and economic development. It is true that globally it is the most extensive crisis in the post-war period--that is a timespan of three generations. However, it is an intellectually and politically unacceptable simplification to identify the current crisis as a temporary recession."--Summary.