Quality of Life Matters More than GDP
Nobel Prize-winner Joseph Stiglitz believes that economists might have foreseen the real estate bubble crash had they looked past GDP growth to the distribution of income among the American middle class. But looking at median markers and well-being isn't part of the current national statistical puzzle. Yet a number of nations and institutions are beginning to acknowledge they can't predict the future on GDP alone. They need to know how people are feeling, and what they want.
- Friday, 28 June 2013