Gross domestic product (GDP) is arguably the most commonly used measurement of productivity and growth, but it ignores one key element of society — our wellbeing.
A wellbeing economy places people and the planet at the centre of creating healthy, fairer and more prosperous societies — moving away from just measuring economic growth and productivity.
With rising costs of living and a looming global recession, 360info looks into the development of wellbeing-oriented policies across countries.
Governments can measure progress differently and incorporate policies that benefit more people, whilst considering the planet we live in. As long as they focus on inclusivity, participation and equity.
Perspectives
The economy doesn’t have to only benefit the rich. Here is how Katherine Trebeck, University of Edinburgh A transition to an economy that benefits everyone and the planet is not easy, but it can happen. Six economic myths that wellbeing economies seek to address Paul C. Sutton, University of Denver The failures of free market fundamentalism and neoliberalism are based on a series of flawed economic assumptions. There is another way. Families in homes a step toward a better economy Paul Dalziel, Lincoln University A growing economy does not always mean a nation is doing well. Measuring wellbeing, and implementing policies to address that, fills that gap. Data visualisation: Comparing wellbeing measurements Ambalika Gupta and James Goldie, 360info The UN's Human Development Index is a leading indicator for measuring a country's progress. But the Life Ladder Score, asks survey respondents to rate their lives. It often tells a very different story.
It's time to move beyond the welfare state to the wellbeing state Mark Fabian, University of Warwick Developed economies have largely tackled poverty, disease, ignorance, hygiene and idleness. It's time for a new approach.
Measuring happiness in Thailand has ties back to the late king Kalayanee Senasu, Graduate School of Human Resource Development National Institute of Development Administration (NIDA) Measurements of happiness are often tied to culture. The sufficiency economy philosophy rooted in Thai policies is no exception.
Originally published under Creative Commons by 360info™.
