this post was submitted on 07 Nov 2023
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I believe that the intent is to shift focus away from material goods, since we have long passed the point of diminishing returns on increasing material wealth increasing individual well-being, and focusing on things that actually do improve it, which our system overall neglects. That would be things like meaningful work, community, art, leisure, et cetera. In short, the things that make us happy, but which GDP doesn’t measure.
That makes sense. Those activities are still adding value, but not usually taken into account in economic metrics.