This concept of “sustainable harmony” can be promoted by publishing indices of personal well-being and environmental preservation, alongside standard GDP data. For example, the Bhutanese government already accounts for the “social wealth” and “natural wealth” of its people, in addition to its GDP figures.
We could also establish a stock exchange, alongside traditional securities markets, comprising so-called ethical organizations, such as social enterprises, cooperative banks, microcredit agencies and fair trade groups. Several initiatives in Brazil, South Africa and the UK, among others, have already taken small steps in this direction.
Small steps lead to big changes. As the value of altruism becomes increasingly obvious, the new approach will spread through the economy, benefiting all of society, future generations and the planet.
Copyright: Project Syndicate / Global Economic Symposium