For decades how well a country was doing was measured in terms of its Gross Domestic Product (GDP). This video explains the problem with GDP as an exclusive measure of progress and proposes an alternative way of measuring that puts human flourishing or well-being central. This value can, however, be understood in different ways and as a consequence there exist various competing and complementary ways to measure progress in terms of well-being or human flourishing.
One can for example ask if the degree to which people have political rights and civil liberties should also be considered to be an element of human flourishing. If that is the case, it should be noted that the non-governmental organisation Freedom House recently judged that Morocco is only a partly free country.
In sub-project B we will dive deeper in these issues. Questions that we will ask include:
- How do various religions and worldviews define human flourishing in relation to the market and what are their views on virtues, vices, human weakness and responsibility in this regard?
- How is human flourishing conceptualized and measured in various disciplines? How do various elements of human flourishing relate to each other and GDP per capita in particular?
Authors / contributors
Series "5 Good Markets introductory videos":
What will this new website, Moral Markets, be about? This series of posts features introductory videos on different topics on which we will publish more in the years to come. Not accidentally, these five topics align with five sub-projects of the Templeton-funded research project behind the Moral Markets website.
Articles in this series:
- What is the ultimate goal of free markets?
- How can human flourishing be defined and operationalized?
- What role can virtues play in realizing human flourishing through the market?
- How can (market) institutions stimulate virtuous corporate action?
- How should we Teach Economics?