{
  "title": "Picture this: Looking Beyond GDP",
  "sourceUrl": "https://www.imf.org/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp",
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  "summary": "The World Happiness Report leads the quest for more holistic measures of well-being",
  "sections": [
    {
      "heading": "Context and purpose",
      "content": "- MORE THAN 50 YEARS AGO US senator Robert F. Kennedy famously critiqued GDP, saying that it “measures everything...except that which makes life worthwhile.”\n- Since then, there have been significant efforts to look beyond GDP in search of more comprehensive ways of measuring well-being to help improve people’s lives.\n- The World Happiness Report leads the quest for more holistic measures of well-being and offers a comprehensive look at self-reported life satisfaction scores across countries."
    },
    {
      "heading": "Evolution and influence of the World Happiness Report",
      "content": "- In the decade since its inception, the World Happiness Report has evolved from a novel concept to an influential factor in advancing the inclusion of well-being metrics in policymaking.\n- When juxtaposed with GDP per capita, the report shows that GDP per capita is a significant predictor of happiness but is not the only factor explaining cross-country differences in happiness."
    },
    {
      "heading": "Key explanatory variables identified",
      "content": "- Social support\n- Life expectancy\n- Freedom\n- Generosity\n- Absence of corruption"
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- The report urges a reevaluation of success, advocating policies that:\n  - Foster economic growth while enhancing the quality of life.\n  - Integrate happiness as a key objective so that governments can adopt a more holistic approach to policymaking.\n  - Ensure progress is measured not solely by material wealth but by the well-being of their citizens."
    },
    {
      "heading": "Examples of policy action",
      "content": "- In 2019 New Zealand introduced the Wellbeing Budget, targeting critical societal areas such as mental health and child welfare.\n\nF&D Magazine — Looking Beyond GDP, ANDREW STANLEY, March 2024\n\n---\n\n Content in this bundle\n\n- Picture This – Looking Beyond GDP\n  - Picture This – Looking Beyond GDP (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Picture This – Looking Beyond GDP (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp"
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    "Authors: ANDREW STANLEY",
    "Published: March 4, 2024",
    "MORE THAN 50 YEARS AGO US senator Robert F. Kennedy famously critiqued GDP, saying that it “measures everything...except that which makes life worthwhile.”",
    "Since then, there have been significant efforts to look beyond GDP in search of more comprehensive ways of measuring well-being to help improve people’s lives.",
    "The World Happiness Report leads the quest for more holistic measures of well-being and offers a comprehensive look at self-reported life satisfaction scores across countries.",
    "In the decade since its inception, the World Happiness Report has evolved from a novel concept to an influential factor in advancing the inclusion of well-being metrics in policymaking.",
    "When juxtaposed with GDP per capita, the report shows that GDP per capita is a significant predictor of happiness but is not the only factor explaining cross-country differences in happiness.",
    "Social support",
    "Life expectancy",
    "Freedom",
    "Generosity",
    "Absence of corruption",
    "The report urges a reevaluation of success, advocating policies that:",
    "In 2019 New Zealand introduced the Wellbeing Budget, targeting critical societal areas such as mental health and child welfare.",
    "**Picture This – Looking Beyond GDP**"
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