We’re growing and we’re happy, or are we?
Do you know what the current rate of economic growth is? Probably not. In the article below Larry Elliott argues that this may indicate that the link between economic growth and happiness has been broken and that alternative measures of GDP may be more helpful in analysing the performance of the economy.
Cameron should count on happiness Guardian (27/8/07)
Questions
| 1. | Explain what is meant by the term ‘Index of sustainable economic welfare’. |
| 2. | Examine three factors that may raise economic welfare that are not included in a conventional measure of GDP. |
| 3. | Use the Friends of the Earth make your own ISEW site to analyse the factors that may contribute the most to economic welfare. Discuss the arguments for and against the introduction of an ISEW as an official government measure of economic welfare. |