If we want to turn our economy into a regenerative, more resilient, and inclusive one, we need to change our thinking on growth. Growth should be about more than just economic growth measured by gross domestic product (GDP). However, during the post-COVID recovery GDP remains the dominant yardstick and governments are doing everything they can to save that old economy.
Impact, or wellbeing, involves more than economic growth: it is also about biodiversity, health or companionship. This sustainable development should, moreover, not just extend to the current generation, but also to future generations and people all over the world. Remarkably, we are seeing a gradual shift in who is talking about this and what is being said. Until a few years ago it was mainly members of the sustainability community and a select group of scientists who urged for a broader concept of prosperity. Nowadays you will also find arguments for such a shift in policy notes from organisations such as the European Union, the UN or the OECD. In ‘Reset the economy – Reset the reset’ we concluded that, despite good intentions, we remain stuck in the paradigm of short-term economic growth and profit. Will 2021 see the final breakthrough of a broader concept of prosperity that at long last goes beyond GDP?