Tag: blogging
on Thursday September 19, 2024
Beyond GDP: Redefining Success for a Sustainable Future
Our current economic system places value almost entirely on financial success as the way to achieve prosperity and wellbeing. This is why gross domestic product (GDP) is the core national and international measure of economic success. It assumes that the more money we have, the greater potential we have to purchase our wellbeing from the market in the form of commodities, goods, services and experiences (e.g. property, food, healthcare and holidays). Therefore, profit maximization is the priority objective at all levels of the system: