The economics of well-being

by Mark Anielski I have a dream: to design, build and enhance economies of well-being around the world. It is time for a complete overhaul of our national accounting systems that for over 60 years has measured progress too narrowly according to how much money changes hands as measured by the GDP (gross domestic product). I believe it is time to develop economies of well-being based on the known determinants of happiness and by measuring the things that contribute most to the well-being of human beings and nature. This new accounting system that measures the conditions of well-being must be … Continue reading The economics of well-being

Economics, happiness, and life-coherent societies

by Jeff Noonan In a 2007 report on the environmental and economic impact of intensified exploitation of the Alberta Oil Sands, then Chief Economist of the Toronto Dominion Bank, Don Drummond, re-affirmed orthodox economics’ faith in Gross Domestic Product (GDP) as a measure of economic performance. “Gross Domestic Product,” he wrote, is the best available indicator of the overall health of the …economy, as it measures the market value of the goods and services produced.” [1] I begin with this example because the oil sands, at current global oil prices, are both hugely profitable and massively environmentally destructive. [2]  GDP … Continue reading Economics, happiness, and life-coherent societies