Our world is confronted by three economic, social, and environmental mega-challenges: continued poverty for a major fraction of the world’s people, rapid population growth, and a global environment that is rapidly degrading at the regional and global scales because of large-scale, human-generated pollution. Rapid economic development has been seen as a first step in alleviating poverty, but it has also generated severe problems of environmental quality, most of the time, without significant compensation in terms of social welfare in the form of reduced vulnerability of people experiencing poverty. Our current model of growth is unsatisfactory because it is only developmental and very little distributive. It is, therefore, inadequate because it does not lead in any way to the social justice necessary to maintain real international and national security based on fairness in economic dealings. To define a greener growth path, it is necessary to build a framework based on these insights that will guide policy analysis. Key to such a framework is improving the measurement of the implications of economic growth. The exclusive focus on unadjusted growth leaves out many of the most important considerations, including the way in which growth takes place. For example, increasing disparities in income and wealth may be a consequence of growth as significant as the growth itself. At the international level, the impact of the economy on its environment is largely ignored. The effect of environmental damage may be perceived as a way of exploiting this externality, benefiting that country and its private and public shareholders at the expense of the public of the polluted state. This is likely to become increasingly important as eco-productivity falls in those countries with lax environmental standards regularly and as pollution norms, and hence pollution control costs, rise.