Updated: Jun 3, 2018
This article suggests dumping GDP as the holy grail and setting a “far more ambitious and global economic goal: meeting the needs of all within the means of the planet” . Very similar to what Lorenzo Fioromonti is proposing in his book, the Wellbeing Economy. " https://lorenzofioramonti.org/ . It is paradoxical that high crime rates in South Africa are good for GDP, because we spend a fortune protecting ourselves behind high walls and with security services patrolling our streets, which is a significant contributor to the economy, but is not good for our wellbeing.
Eric Beinhocker Executive Director of the Institute for New Economic Thinking at Oxford University, believes the financial crisis of 2008 and the momentous global political shifts last year, have heralded a collapse of major economic-political ideologies that have dominated the 20th century. Older economies in particular are searching for a completely new paradigm that can show a better way for all. "