Wealthy future may come at the expense of happiness
The pursuit of happiness is a philosophical debate that has been ongoing for centuries. But with rising inequality and life indicators worsening due to the onset of the fourth industrial revolution, governments need to be pivoted on happiness and well-being going forward.
While the world today is wealthier than ever before, levels of inequality have also increased and it has become “the issue of our time”, Ohoud bint Khalfan Al Roumi, Minister of State for Happiness and Well-being, said during a panel discussion on ‘Well-being: GDP and Beyond’.
“Where economic indicators have doubled, life indicators have worsened. Since 1980, obesity rates in 70 countries have doubled. Mental disorders today affect one in four people. On top of that, we are approaching the fourth industrial revolution and while that will increase the wealth of the world, it will put more pressure on life indicators,” she said.
As people lose jobs to technology and become redundant for new job roles created, depression and other mental disorders will take hold.
“This impending job loss will create a crisis. The value of a human being’s life is from our work; the purpose of life comes from work. So, in the future, what will matter most is being comfortable, happy and healthy.
“In the UAE, the future of the government will focus on the GDP (gross domestic product) and beyond. The government, all governments, should be pivoted on wellbeing,” Al Roumi said.
Among the other speakers at the session were Angel Gurria, secretary-general, Organisation for Economic Cooperation and Development, and Achim Steiner, administrator at the United Nations Development Programme.
Gurria said that while GDP is a good measurement of some things, it is “not a breakdown of the quality of life”. “There is no one formula that will create well-being. It’s a collaborative process. We now have slow growth, high unemployment and growing inequality because the trust in governments went downhill. That is what we have to capture again. If we can increase well-being, we can increase the trust lost in the global crisis,” he said.
Talking about the need for “hardwiring and redesign” on a government level, Al Roumi said many governments around the world are realising the importance of happiness and well-being. And she called on more private organisations to engage in the dialogue.
Commenting on the lessons learned from the UAE, Gurria said the fact that the country has a Ministry of Happiness and Well-being shows a level of “ambition going by quality of life in society”, and said all should aspire to follow suit.