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[Discuss] happiness is the new measures and social progress for 21st-century economy
TS
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[Discuss] happiness is the new measures and social progress for 21st-century economy
so guys I think it's an interesting motion to talk about 
Soo,what do you think guys? agree? disagree? Give me your best opinion!
Addition from mr.evening, with more understandable words
Spoiler for opening remarks:
Material living standards are used to assess how well or badly economies are doing in both the advanced and developing world. Typically measured by GDP per person, or household and individual incomes, these gauges of prosperity dominate national debate about social as well as economic progress. In America there is long-standing angst about the reported stagnation of median household income over the past four decades. In Britain there is alarm about a fierce squeeze on real disposable incomes as meagre growth in wages is eroded by inflation and tax rises, pushing the standard of living back to the level it was six years ago. In China the government has long considered rapid GDP growth essential to maintain social stability.
The focus on these measures is unrelenting even though their flaws have long been recognised. GDP takes no account of environmental degradation or the rundown of exhaustible resources and it excludes unpaid services notably in the home but also volunteering. It is boosted after natural disasters and during crime waves as infrastructure is renewed and burglar alarms are installed. Incomes measure only what is earned (or provided through public transfers) in the market economy.
A broader critique is that it is not enough to measure individual or social well-being through material indicators alone. This practice misses out the crucial dimension of the quality of life. In opposition, when the British economy was flourishing before the financial crisis, David Cameron said there was more to life than money and suggested that GWB (general well-being) should count as much as GDP (gross domestic product). As prime minister and as living standards fall he is no longer banging that drum, but Britains coalition government has started to measure quality of life, asking people, for example, how happy or anxious they have been feeling, how satisfied they are with their lives and how worthwhile they regard the things they do.
The focus on these measures is unrelenting even though their flaws have long been recognised. GDP takes no account of environmental degradation or the rundown of exhaustible resources and it excludes unpaid services notably in the home but also volunteering. It is boosted after natural disasters and during crime waves as infrastructure is renewed and burglar alarms are installed. Incomes measure only what is earned (or provided through public transfers) in the market economy.
A broader critique is that it is not enough to measure individual or social well-being through material indicators alone. This practice misses out the crucial dimension of the quality of life. In opposition, when the British economy was flourishing before the financial crisis, David Cameron said there was more to life than money and suggested that GWB (general well-being) should count as much as GDP (gross domestic product). As prime minister and as living standards fall he is no longer banging that drum, but Britains coalition government has started to measure quality of life, asking people, for example, how happy or anxious they have been feeling, how satisfied they are with their lives and how worthwhile they regard the things they do.
Soo,what do you think guys? agree? disagree? Give me your best opinion!
Addition from mr.evening, with more understandable words
Quote:
Original Posted By Evening►TS, allow me to breakdown the sentence in more understandably manner. so more people can join.
the first part talking about the current measure of the country progress. currently, we use GDP as a measure about how well the country is.
GDP is a method to calculate economic activity. it's like a measure of how much money you spend and how much money you receive by using data of how many things are being made in one country during a certain time period and the cost and profit associated with it.
now imagine that you're president. why you want to understand GDP? more importantly, why you want to measure the well being of our citizen? the simple answer would be to keep your citizen happy so they wont kick you out of the office while the more political answer would be "to measure the progress of our country as to ensure that we deliver Social justice for the all of the people of our country."
first, we must know what is economic and social progress.
economic progress is... well there are 4 definitionabout it so i will choose the shortest one.
"A positive change in the level of production of goods and The growth in wealth of a nation, as measured by an increase in gross national product, or in national income. services by a country over a certain period of time."
to simplify thing's, this is what the economist believe.
if a country have GDP above (global) Poverty level, then they have rich people. rich people equal to happy people so they're happy country. on the other hand, if it have GDP below poverty level, then suck it. they're poor and unhappy.
on the other hand. social progress believe that regardless of how rich we are, we can maintain our well being or we can be happy regardless of how much money we make.
these part talking about how well the country is. it seem like the folks in America is doing well these day, those Briton is having some difficulty with money and the Chinese has enjoyed an increase of income.
these part talk about the weakness of GDP as measurement. according to... TS, is this paragraph came from Stiglitz work? Happiness and Measuring Economic Progress or from another source?
anyway, it seem like GDP has some flaw when use it to measure the well being of citizen.
the last paragraph telling us that a more relevant measurement should be done because, according to them, lot of money not equivalent with lot of happiness.
that's is, enter GWB, general well being. David Cameron said that the government must realize the new equation. well being of people equal to quality of life + quality of income. the later part is measured with statistic method and the other part is measured with... eh asking "how are you this year?" to every citizen...
Spoiler for the paragraph according to my understanding:
the first part talking about the current measure of the country progress. currently, we use GDP as a measure about how well the country is.
GDP is a method to calculate economic activity. it's like a measure of how much money you spend and how much money you receive by using data of how many things are being made in one country during a certain time period and the cost and profit associated with it.
now imagine that you're president. why you want to understand GDP? more importantly, why you want to measure the well being of our citizen? the simple answer would be to keep your citizen happy so they wont kick you out of the office while the more political answer would be "to measure the progress of our country as to ensure that we deliver Social justice for the all of the people of our country."
first, we must know what is economic and social progress.
economic progress is... well there are 4 definitionabout it so i will choose the shortest one.
"A positive change in the level of production of goods and The growth in wealth of a nation, as measured by an increase in gross national product, or in national income. services by a country over a certain period of time."
to simplify thing's, this is what the economist believe.
if a country have GDP above (global) Poverty level, then they have rich people. rich people equal to happy people so they're happy country. on the other hand, if it have GDP below poverty level, then suck it. they're poor and unhappy.
on the other hand. social progress believe that regardless of how rich we are, we can maintain our well being or we can be happy regardless of how much money we make.
these part talking about how well the country is. it seem like the folks in America is doing well these day, those Briton is having some difficulty with money and the Chinese has enjoyed an increase of income.
these part talk about the weakness of GDP as measurement. according to... TS, is this paragraph came from Stiglitz work? Happiness and Measuring Economic Progress or from another source?
anyway, it seem like GDP has some flaw when use it to measure the well being of citizen.
- GDP ignore the damage to the environment. seeing that environment is a Trending topic these day, it's a rather big flaw.
- GDP only record economic activity that happen in the market. therefore they ignore voluntary action or knowing to the economist as underground economy, meaning they don't bother to find out how much money we receive or give that we don't bother to tell them. like money we gave to charity or "protection fee" we gave to our local gangster which according to the paragraph, are quite significant especially after natural disaster and certain event that lead to increase crime.
the last paragraph telling us that a more relevant measurement should be done because, according to them, lot of money not equivalent with lot of happiness.
that's is, enter GWB, general well being. David Cameron said that the government must realize the new equation. well being of people equal to quality of life + quality of income. the later part is measured with statistic method and the other part is measured with... eh asking "how are you this year?" to every citizen...
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