Bellagio Initiative

"Economics is actually part of culture – not vice versa"

In the framework of the Bellagio Initiative, The Broker hosted October 2011 a lively online debate on human wellbeing and inclusive economics in the 21st century. The contributors agree that economic growth as measured by gross domestic product (GDP) generally has very little to do with human wellbeing per se.

We should start viewing and measuring development as a social phenomenon that originates in the social nature of human beings. Although it is no easy task to find an equally simple and intuitive alternative indicator, we should look towards the relational aspects of wellbeing to come up with a socially oriented parameter that does justice to what actually makes life worthwhile.