What should economies be aiming for? That is a fundamental question that few, if any, economists seem to ask because the answer was a given. Economic growth has quadrupled since 1970, and is predicted to quadruple again by 2050. Yet most of the population in the world is facing poverty, a degraded environment, and income inequality. In 2010, the top 10% of people in the United States gained 93% of all the increase in national income. It is clear that most people want something more than "growth." This was foreseen almost a century ago. In 1934, Simon Kuznets created the Gross-National-Product system that measures the growth of a nation. He warned that this measure alone would not provide a comprehensive picture of the wealth of a nation. “We need to widen our concept of what economic development is, beyond growth alone,” says Oxford economist Kate Raworth in this animated short video.

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  • Listen to the full version of Kate Roworth's talk, Doughnut Economics, on which this short video is based.
  • In this TED talk, statistician Nic Marks introduces the Happy Planet Index, which tracks national well-being against resource use.
  • How do you measure wealth? Share your thoughts with other engaged viewers in the comments section below.

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