GDP is out, GNH is in

The idea that GDP is the best measure for the well being of a nation is becoming outdated. Sure, we haven't exactly found out how to measure it much better, but we can agree that GDP is not the right way. So we have to find new ways how to define growth and again go search for the things that matter to us. See for example this experience from an entrepreneur, who searched for redefining the added value for his personnel and for his customers that he as a company could deliver and how to measure this

For a simple explanation of the Gross National Happiness, see this video:



Also, several Dutch books have questioned both GDP and the challenge of eternal economic growth as good concepts to strive for, see: here and here

This relates to the debate about where innovation belongs. Many people see innovation as a sub theme in economics. It describes the way in which productivity is increased over and over again in order to obtain economic growth. However, we are starting to redefine innovation from productivity increase to all new created new value. And these new created values can be out of the economic domain (e.g. health, education, entertainment, religion, charity, good and transparent government, etc...). Therefore the innovation debate is very much related to the debate about GDP vs GNH. First we have to define our goals, what does make us happy. Then we can innovate our way to get there...

Picture by Flickr user GreyArea