ABSTRACT
As other chapters in this book demonstrate, the world of economic activity is on a collision course with the planet’s ecosystem. The dominant global business model is to consume and degrade at rates long known to be unsustainable. It is no longer a model that can deliver on the promise of greater prosperity, opportunity, and freedom. The challenges of a necessary shift from growth to wellbeing are significant. This chapter briefly explores the nature and logic of the reigning economic paradigm with the intent of identifying both reasons and consequences behind today’s preeminent measure of economic success – GDP. While there was, and in some cases still is, good reason for economies to focus on growth of aggregate output, most advanced economies are long past this point. But better metrics alone won’t do. This chapter argues that to go beyond the measure requires going beyond the paradigm on which it is based.
