## Picture this: Looking Beyond GDP

## Source details

**Canonical URL:** [Picture this: Looking Beyond GDP](https://www.imf.org/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp)

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- [Markdown version](/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp/index.md)
- [Structured JSON version](/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp/index.json)
- [Bundle manifest](/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp/bundle-manifest.json)

## Bibliographic details
- Authors: ANDREW STANLEY
- Published: March 4, 2024

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### Context and purpose
- 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.

### Evolution and influence of the World Happiness Report
- 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.

### Key explanatory variables identified
- Social support
- Life expectancy
- Freedom
- Generosity
- Absence of corruption

### Policy implications and recommendations
- The report urges a reevaluation of success, advocating policies that:
  - Foster economic growth while enhancing the quality of life.
  - Integrate happiness as a key objective so that governments can adopt a more holistic approach to policymaking.
  - Ensure progress is measured not solely by material wealth but by the well-being of their citizens.

### Examples of policy action
- In 2019 New Zealand introduced the Wellbeing Budget, targeting critical societal areas such as mental health and child welfare.

*F&D Magazine — Looking Beyond GDP, ANDREW STANLEY, March 2024*

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## Content in this bundle

- **Picture This – Looking Beyond GDP**
  - [Picture This – Looking Beyond GDP (Markdown version)](/-/media/files/publications/fandd/article/2024/03/picture-this0324.pdf.md){rel="alternate" type="text/markdown"}
  - [Picture This – Looking Beyond GDP (PDF)](/-/media/files/publications/fandd/article/2024/03/picture-this0324.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/fandd/issues/2024/03/picture-this-looking-beyond-gdp_