Author: At the live ticker there were Manuela Siegert and Deborah Onnis
Governments rely on gross domestic product in many decisions. However, GDP does not reflect much that is central to the well-being of a country – such as volunteer work.
What would be the alternative to measure wealth?
Patrizia Laeri discussed with international scientists and politicians:
Jacinda Ardern, Prime Minister of New Zealand
Angel Gurria, Secretary General of the OECD
Ohood Bint Khalfan Al Roumi, Minister of happiness and welfare of the United Arab Emirates
Mariana Mazzucato, Professor of Economics of Innovation at the University College of London
Erik Brynjolfsson, Economist of the Massachusetts Institute of Technology in Boston
The ticker is completed
11:52
goodbye
The "More than GDP" SRF panel is over and with it our live coverage. You can see the whole discussion at the top of the article. Thanks for your interest
11:49
He is waiting for the job
The podium is an agreement: not only does it need a better understanding of GDP, but it also needs new standards. The economist of innovation Mariana Mazzucato states: "We will not be able to solve it if we can not measure the values that come from all sectors of society".
11:44
Where is the weighty digitization?
The economy is becoming more and more digital, but hardly reflected in GDP. According to the MIT economist Erik Brynjolfsson, much is even "invisible" because it does not cause marginal costs, like numerous apps on smartphones.
Already in 1983, the proportion of digitization was 4.6 percent. "Today, after an explosion of these services, the share is still 4.6 percent."
11:35
OECD takes people's frustration seriously
Angel Gurria, Secretary General of the OECD, is already seeing major changes in metrics. These are due to people's requests. "We want to consider the causes of frustration". Erik Brynjolfsson also notes that people's health is taken more seriously.
11:27
Jacinda Ardern: "A policy must be established for 30 years"
Jacinda Ardern is currently revolutionizing New Zealand's health policy. He no longer wants to know how many billions are spent on health and how many operations are performed. He asks other questions: "How healthy are people and what is their health?" Many long-term studies have already existed. "A policy must therefore be created for 30 years".
For this approach, Jacinda Ardern receives praise from the United Arab Emirates, Minister of Good Fortune and Wellness, Ohood Bint Khalfan Al Roumi.
11:21
Mariana Mazzucato criticizes the politics of the EU
Mariana Mazzucato, professor of Innovation Economics at the University College of London, is originally from Italy. He believes that too many European countries have been told to save rather than invest in education, for example. "One has tried to cure the sick with the wrong means."
11:08
Ohood Bint Khalfan Al Roumi, Minister of Happiness and Wellness
"The most important task of government work must be luck," says Ohood Bint Khalfan Al Roumi. She is the Minister of Happiness and Wellness of the United Arab Emirates.
You have to go far beyond what you would otherwise measure. In medicine, for example, the personal well-being of patients and employees must be examined in order to make a declaration of success.
11:05
Jacinda Ardern has created a budget for «Wellness»
Jacinda Ardern has created a budget for "Wellness" in New Zealand as Prime Minister. He says: "As a minister, you want to spend money, I have to show that one is the well-being of all people and of society, and not just the economic one".
11:02
Mariana Mazzucato: GDP is contradictory
"If you marry your cleaning lady, the GDP will fall, what do you say?" Mariana Mazzucato underlines the contradictions of the GDP. Stresses that GDP only counts results that have a price. So if – hypothetically – a cleaner for a family member, this person can continue to ensure the cleanliness of the apartment, but no longer receives any money. Jacinda Ardern adds: "Unless cleaning services continue to be loaded – what you should do!"
He is a consultant to the European Commission and the UN. People have never asked whether private equity firms were really creating value or simply value.
10:58
Erik Brynjolfsson defends the value of GDP
"I have to say that GDP is a great invention," says Erik Brynjolfsson at the outset, defending gross domestic product. He is an economist at the Massachusetts Institute of Technology in Boston. Before the GDP growth in the 30s, the economy had been poorly understood.
Make the mistake today to see it as a synonym for prosperity and well-being. It takes a whole "tailor-made" dashboard.
10:42
The Nobel Prize Joseph Stiglitz also criticizes the too rigid focus on GDP
10:39
The SRF debate begins
Welcome to Liveticker. The discussion "ECO Special" "More than GDP" begins at 10:45, moderated by Patrizia Laeri.
16:32
The guests
The "ECO Special" "More than GDP" discussion starts at 10.45 with the following guests:
Jacinda Ardern, Prime Minister of New Zealand
Angel Gurria, Secretary General of the OECD
Ohood Bint Khalfan Al Roumi, Minister of happiness and welfare of the United Arab Emirates
Mariana Mazzucato, Professor of Economics of Innovation at the University College of London
Erik Brynjolfsson, Economist of the Massachusetts Institute of Technology in Boston
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