India and Brazil have had explosive growth over the last decade. Or have they? A new measurement of the true wealth of nations finds that what countries give up for a rise in GDP may be incredibly costly.
Increased economic growth doesn’t necessarily lead to more fulfillment. So why do we consider GDP to be the most important factor? In an excerpt from The End of Growth: Adapting to Our New Economic Reality, Richard Heinberg argues it’s time to start paying more attention to national happiness instead.
In the aftermath of the recession, we have the opportunity to truly change the system. From replacing outsourcing with insourcing to untying well-being from GDP, here is what the economy of the future might look like.
China is the future, as you may have heard. But that future has not quite yet arrived. And the fact is, in 20 years China won't be quite like any country in the West -- no matter how China evolves, it's not going to be some neophyte version of a stable Western country. It'll be a behemoth quite unlike any other developed nation in the world.
You can get a taste of just why that is in this infographic from The Guardian, which shows how China and the U.S. compare on various metrics, ranging from GDP per capita to their respective movie industries:
The Gulf of Mexico oil disaster may, believe it or not, give a boost to our ailing economy.Because while the six-month moratorium on new offshore drilling and the negative impacts on fishing and tourism in the Gulf will undoubtedly put a damper on the GDP, the temporary industry of cleanup workers could offset any losses--and perhaps even outweigh them. Does it matter?
Earlier this year, FastCompany.com started tracking bright spots in the ailing economy with a series of infographics. Here's a look at some of the most revealing findings we visualized. Feeling hopeful yet?