Is GDP an adequate measure of a nation's true success?
In short: Nicola Sturgeon explores the shift toward a well-being economy, moving beyond traditional financial metrics to prioritize human and environmental health as the primary indicators of national progress.
In 2018, Scotland joined Iceland and New Zealand in forming the Wellbeing Economy Governments network. This initiative challenges the standard reliance on Gross Domestic Product (GDP) as the sole benchmark for a country's prosperity.
A well-being economy centers its policy on factors such as mental health, access to green spaces, equal pay, and childcare. By prioritizing these elements, governments aim to build the collective resolve necessary to address pressing global challenges.
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Sources
- Summary by Intellect · source: Why governments should prioritize well-being | Nicola Sturgeon
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