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GDP is not an appropriate measure of wellbeing and progress, then what is? Questioning GDP means asking the questions: What do we care about as a society? What does wellbeing mean for us? As Stiglitz (2009) asserted, "We need to open a national dialogue that sheds light on what values are important to society, and then create metrics that reflect this and are used by decision- makers.This dialogue is not an easy one to have, but it is definitely a fruitful one. If more holistic, comprehensive, and sustainable indicators are to emerge, what variables should be used? Who decides what these variables are? How is the information that the indicator reveals used by decision-makers?
GDP is not an appropriate measure of societal wellbeing and progress, according to the author, and thus raises the question of what is a better measure. The author suggests that questioning GDP means considering what values are important to society, and what wellbeing means for us, as well as creating metrics that align with those values. Stiglitz (2009) emphasized the need for a national dialogue to establish these values and metrics, stressing the difficulty of this task. The author then poses several questions to consider in designing holistic, comprehensive, and sustainable indicators, such as what variables should be included, who decides these variables, and how will decision-makers use this information.
Sure! Here is the annotation of the sentence:
GDP is not an appropriate measure of wellbeing and progress, then what is?
- The sentence begins with the assertion that GDP (Gross Domestic Product) is not a suitable gauge to assess wellbeing and progress.
- It poses a thought-provoking question by asking what alternative measure can be used instead of GDP to evaluate wellbeing and progress.
Questioning GDP means asking the questions: What do we care about as a society? What does wellbeing mean for us?
- This line emphasizes that challenging the use of GDP involves asking crucial questions regarding societal values and the interpretation of wellbeing.
As Stiglitz (2009) asserted, "We need to open a national dialogue that sheds light on what values are important to society, and then create metrics that reflect this and are used by decision-makers."
- The sentence attributes a statement to economist Joseph Stiglitz from a 2009 work, where he advocates for initiating a national discourse to explore society's important values. This dialogue should lead to the development of metrics that align with these values and are employed by decision-makers.
This dialogue is not an easy one to have, but it is definitely a fruitful one.
- This sentence emphasizes that the proposed national dialogue may involve challenges or complexities but is deemed valuable and productive.
If more holistic, comprehensive, and sustainable indicators are to emerge, what variables should be used? Who decides what these variables are? How is the information that the indicator reveals used by decision-makers?
- These series of questions highlight the need to identify alternative indicators that are comprehensive, sustainable, and holistic. It also raises crucial questions about the determination of these variables and the utilization of information from such indicators in the decision-making process.