Well-Being and the New Economy

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by David Brancaccio

Type: Video [title]
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How the New Economy Works

What is the new economy all about and will it lead to new jobs? Fixing the Future examines these questions in a series of animated shorts called the "How the New Economy Works." The short video below illustrates the ineffectiveness of GDP.

The indicators we use to evaluate economic performance guide the priorities we build into our economic institutions and policies. Current practice relies primarily on financial indicators, specifically growth in GDP (gross domestic product) and stock market indices. By the prevailing wisdom, the faster GDP and share prices grow, the better the economy is performing. This premise in turn drives economic policy choices.

The New Economy Working Group is advancing the transition from growth in GDP as the measure and goal of economic activity to improvements in human, social, and environmental health as the proper measure and goal.

 

Watch Animation: Well-Being in the New Economy on PBS. See more from NOW on PBS.