Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I've focused the title of the story on one concept which I find quite enlightening and which might be the easiest to measure: that of "regrettables":
GDP includes many items that do not boost human wellbeing. If a hurricane or an earthquake destroys an entire region, the reconstruction effort is counted as a boost to GDP - even if it only replaces something that was there not long before.
Not only that. The spending will often go at the cost of wealth.

The chart shown does cut some corners in assuming that happiness is the greatest good. This hints at a utilitarian approach, which is largely discredited in moral philosophy.

by nanne (zwaerdenmaecker@gmail.com) on Wed Sep 20th, 2006 at 06:17:58 PM EST

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