Why we need to move towards a wellbeing economy

Since the end of World War Two, but particularly since the end of the Cold War, much of the world has used gross domestic product (GDP) to measure economic health and progress.

However, the past several decades show us that economic growth does not necessarily translate into an economy that delivers for the people.

We are, after all, in an era where wealth inequality is at the highest it has ever been, and the middle class in many countries is no longer aspirational but shrinking and downwardly mobile.

BFM speaks to Dr Katherine Trebeck, a political economist and writer. She is the economic change director at The Next Economy, and teaches at the University of Edinburgh. She is a huge advocate of something called the ‘wellbeing economy’. The idea is to fundamentally rethink how governments and societies define and pursue economic success.

Presenter: Dashran Yohan Producers: Dashran Yohan, Azureen Ridzuan | Production: BFM