Our obsession with GDP, globalisation and economic growth has failed to take into account the impact on health and the environment.
We need to recover from this collapse in a way which is good for people, planet and the economy. We need a Great Reset. Could “currencies” based on health and well-being be the answer to creating the thriving cities of tomorrow?
From GDP to health
GDP has come to dominate economics at the expense of many other things that make life worth living. GDP is powerful because money serves both as a day-to-day means of exchange understood by everyone and a unit of account at national and international levels. Money, therefore, links the worlds of micro-economics and macro-economics – of money in our wallet and national policies and politics.
However, GDP is not a good measure of progress. We propose now that health be the currency for the Great Reset. We are working to adapt the concept of “quality adjusted life year”, or Qaly, to give us a measure of well-being that links individual health to global health – the new worlds of micro-health-economics and macro-health-economics.
There is nothing more important to us as individuals than our health, happiness and wellbeing. Happiness and wellbeing may