New Straits Times

COUNTRY’S GDP

The time is ripe to view human developmen­t as part and parcel of economic developmen­t

- The writer is director of the Asian Research Institute of Banking and Finance, Universiti Utara Malaysia

shift in thinking is needed. For this, the time is ripe to view the notion of economic developmen­t as human developmen­t. What this implies is that, when we talk about growth, the story is not merely about production and income per se, but above all, to put people’s well-being and happiness at the core of the narrative. As GDP is meant for the measuremen­t of aggregate output, measuremen­t for well-being and happiness must also be put in place so that it can be evaluated and improved from time to time. We have our own well-being index, but to measure and understand subjective well-being and happiness, we need a measuremen­t that is universal and comparable to other countries as well. Towards this end, perhaps the World Happiness Report, published by the United Nations, can be the starting point.

The World Happiness Report 2017, the fifth report since the first was published in 2012, analyses the levels, changes and determinan­ts of happiness among and within nations. It places greater attention on social foundation­s of happiness for both individual­s and nations based on six crucial variables — GDP per capita, healthy years of life expectancy, social support, trust (as measured by a perceived absence of corruption in government and business), freedom and generosity. Of the 155 countries evaluated, this year’s ranking shows Malaysia standing at 42nd place, an improvemen­t of five places from last year’s 47.

Malaysia is, in fact, the fourth happiest country in Asia. The point here is that, while Malaysia is heading in the right direction now, we do not want that by 2050, the dystopian scenario projected in the article to become a reality. Hence, efforts need to be doubled from now. For specific measures, perhaps the Fit Malaysia programme can be expanded to not just being a springboar­d for Malaysia to become a true sporting nation, but also issues of well-being and happiness of Malaysians.

Perhaps the definition of “fit” could be expanded not just to include physically, but also mentally, psychologi­cally and spirituall­y. Even in sports, we know that being physically fit is not enough; equally important is the psychologi­cal dimension of fitness among our sportsmen.

The other aspect that relates to happiness is arts and culture. In the World Happiness Report, one of the main classes in measuring happiness is eudaimonia, that is, a sense of meaning and purpose in life. I believe that to have a sense of meaning and purpose in life, arts and culture play a crucial role. Maybe besides building skyscraper­s, it is time for Malaysia to build a cultural centre, especially in the area of greater Kuala Lumpur or in Bandar Malaysia.

Understand­ing and being proud of our arts, culture and history will give us a sense of belonging and will eventually foster eudaimonia and happiness in us. Commenting on the 2017 World Happiness Report, Prime Minister Datuk Seri Najib Razak said in his blog: “It’s useless if we have high incomes but are not happy.”

 ??  ?? As gross domestic product is meant for the measuremen­t of aggregate output, measuremen­t for wellbeing and happiness must also be put in place so that it can be evaluated and
improved upon from time to time.
As gross domestic product is meant for the measuremen­t of aggregate output, measuremen­t for wellbeing and happiness must also be put in place so that it can be evaluated and improved upon from time to time.

Newspapers in English

Newspapers from Malaysia