New Zealand Focuses on Personal Wellbeing Instead of Economic Figures

The measure of a strong economy is its gross domestic product or GDP. If a country’s rankings are higher, then it reflects a robust per-capita ratio that becomes useful as a standard-of-living tool.

There’s only one problem with a GDP measurement: it doesn’t take into account how people think or feel about life.

Someone could put in 20 hours of work daily to push the national GDP higher. Their efforts would likely lead to feelings of discontent.

New Zealand decided to take a different approach. Instead of focusing on economics, leaders in this country are using the Happiness Index as their primary measurement tool.

New Funding Goes Toward People in Need

The goal of using the Happiness Index is to help provide needed services to those who need help in society. As part of the new budget, the government of New Zealand is allocating hundreds of millions of dollars to help the victims of domestic or sexual violence.

Some of that money also goes toward housing programs that help the homeless to get off of the street.

It is a life-changing, progressive policy that sets a new standard for the rest of the world to follow.

All new spending must advance one of five specific priorities. Those areas include digital transformation, low-emission tech development, and the removal of inequality. This vision is trying to inspire a global change to the way that economies evolve.

Only time will tell if it will produce dividends for the people of New Zealand and the rest of the world.



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