How and Why We are Moving Beyond GDP as a Measure of Human Progress
Tani Shaw, 5 Jan 17
       

Accessible “green space” in cities is one of the things we will start measuring. Shutterstock

How we track our economy influences everything from government spending and taxes to home lending and business investment. In our series The Way We Measure, we’re taking a close look at economic indicators to better understand what’s going on.


Ever since 1944, Gross Domestic Product (GDP) has been a primary measure of economic growth. It’s in the news regularly and, even though few can define what it means, there is general acceptance that when GDP is growing, things are good.

There are problems with this simplistic formulation.

GDP measures production only. It does not capture collapsing fish stocks, increasing obesity and diabetes, or new types of synthetic drugs. When people choose to work part-time to have a better work-life balance, GDP actually goes down.

This narrow focus distorts our perception of progress. It guides our representatives to focus only on certain things – what is measured – and allows them to ignore what isn’t quantified and regularly reported.

But a new set of measures is slowly being established, which aims to capture a wider range of human experiences and reset our idea of “success”. Called the UN Sustainable Development Goals (SDGs), these aim to include all the main pillars of a progressive society, from physical safety through to economic opportunity and good health.

SDGs will force action by highlighting what is currently covered up by the narrow measures of how our economy and society are faring.

Sign in to view full article

       
How and Why We are Moving Beyond GDP as a Measure of Human Progress
How we track our economy influences everything from government spending and taxes to home lending and business investment. In our ...
Tani Shaw
Thu, 5 Jan 17
Scientists Can Hack Sensors in Cars and Phones with a $5 Speaker
Critical sensors in lots of cars, phones, and medical devices could be vulnerable to hacks from sound waves.
Nicole Casal Moore
Fri, 17 Mar 17
Exiled Chinese Billionaire Sheds Light on Regime’s Forced Organ Harvesting
Though associated with communist leaders, Guo Wengui declared his support for persecuted Falun Gong adherents
Leo Timm
Fri, 31 Mar 17
Is The Developed World We’ve Created Giving Us Cancer?
I had assumed that the small lump in my breast was a blocked milk duct from nursing my seven-month-old son. ...
Chelsey Kivland
Thu, 8 Jun 17
When Things Go Wrong In An Automated World, Would We Still Know What To Do?
We live in a world that is both increasingly complex and automated. So just as we are having to deal ...
Peter Fisher
Mon, 27 Mar 17
At Epoch Times, We Care :o)
An Epoch Times Survey
Join us today!
BUCHERER
Sports Elements
Sports Elements