I’ve been having some thoughts lately about how the economy, as we measure it, is being affected by the global pandemic.
Will this be the perfect time to do away with GDP for good, and start using a more comprehensive approach for measuring growth and progress?
For those who remember, the modern concept of the GDP was a recent innovation in human history. Recent, in this context, is the year 1934, when the US Congress decided it was the best option after the World War and Great Depression.
Economic activities in several countries across the world are affected, but more than these activities, we all are paying attention to social well-being. We are paying attention to the things that count, the things that make us human. We are paying attention to trust, to community, to well-being, and flourishing.
This is the best time to rethink our priorities, to bring to reality the things we’ve learnt from the BeyondGDP movements. Even if we don’t get to change it, at least, we can talk about and consider it.