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Happiness isn't enough to replace GDP
Subjective well-being is not a reliable indicator of true, objective well-being
STILL SHOPPING: Any movement away from GDP fetishism towards a more holistic and meaningful definition of national well-being should be welcomed.
PHOTO: BLOOMBERG
THE idea that data on happiness and well-being can be used to guide government policy has steadily gained popularity over the past decade. But as we seek ways to replace, or at least complement, GDP as a measure of national success, we risk falling into old traps.
One measure that is...
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