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Simon Kuznets invented the concept of GDP (Gross Domestic Product) almost a hundred years ago, during the Great Depression. His intention was simply to help the US government understand the global crisis by following the rise and fall in the finances of the nations. He warned against the misuse of this data, writing: “The welfare of a nation can scarcely be inferred from a measure of national income.”

When ‘economy’ passes the point of usefully contributing to welfare and simply becomes ‘making’ money for its own sake, does it cease to become true economy in the original Greek sense of ‘good household management’, where ‘eco-’ means ‘home’? Are we merely buying an idea? During the global financial crash of 2008, governments finally began looking for alternatives to GDP as their chosen measure of ‘progress’. The nation of Bhutan led the way by measuring its Gross National Happiness (GNH).

France followed in 2009, commissioning a report using wellbeing, not GDP, as a measure of progress; in 2010, the UK also began measuring objective welfare alongside reported happiness. Then in 2012, the United Nations produced the World Happiness Report, a ‘holistic approach to development’.

Our economy depends upon low or unpaid caring work such as raising children and caring for the elderly and sick, but its monetary value is overlooked. ‘Care’ and the value of ‘natural assets’ is paradoxically neglected by economics, although they are fundamentals of our wellbeing.

And where does our Government’s focus on continual GDP growth lead us? As the rich become richer while the poor become poorer, our GDP can still look just great! It tells us little about the distribution of wealth across households.

Striving for unlimited growth is clearly impossible because of Earth’s limited resources, but Governments prefer generally to think ahead only a few years. We have never had to deal with problems of the scale facing today’s globally interconnected society. Where will they have taken us in the next few generations?

“What we need are economies that enable us to thrive, whether or not they grow”, says Kate Raworth in her book, Doughnut Economics. To support Horsham folk in being able to contribute to a healthy community where people feel valued and proud and have a sense of ownership, GDP ‘growth’ will have to stop being the sole focus of attention.

These next years call for balanced economic thinking where the effects of our production and consumption on the planet are measured. It calls for decisions that focus on sustainability, because our habit of buying more than we need and throwing it away is costing us the Earth.

Curious? Then join in on Saturday, February 6 (2pm-3pm) at the next Climate Café online talk. Get your free invitation for Circular Economy at www. sussexgreenliving.co.uk/events