Broad prosperity is currently a significant yardstick for researchers, policymakers, and politicians. However, there is still no consensus on the exact definition of "broad prosperity" and what it should encompass. This lack of agreement can lead to arbitrary interpretations and cherry-picking.
It's evident that the concept and instrument of broad prosperity haven't been fully developed, despite the growing need for such a tool.
In this chair, we unravel this concept with the aim of making it applicable to decision-making around business-economic activities. A crucial step in this process is analyzing and quantifying which business activities contribute to narrowing the trade-offs between economic, social, and ecological interests.
Take, for instance, the aviation sector, where broad prosperity plays a significant role. When investing in fleet renewal, expanding or limiting airport capacity, and providing an extensive network of connections, we must weigh economic, social, and ecological interests.
Within the Center for Accounting, Auditing & Control at Nyenrode, the focus is on ensuring the reliability of financial and non-financial management and reporting information for both internal and external stakeholders. This is partly done in the context of Environmental, Social, and Governance (ESG) legislation within organizations. Therefore, reliability in reporting on broad prosperity is of great importance.
