by Jeffrey Sachs, via Project Syndicate
NEW YORK â We live in a time of high anxiety. Despite the worldâs unprecedented total wealth, there is vast insecurity, unrest, and dissatisfaction. In the United States, a large majority of Americans believe that the country is âon the wrong track.â Pessimism has soared. The same is true in many other places. Against this backdrop, the time has come to reconsider the basic sources of happiness in our economic life. The relentless pursuit of higher income is leading to unprecedented inequality and anxiety, rather than to greater happiness and life satisfaction. Economic progress is important and can greatly improve the quality of life, but only if it is pursued in line with other goals.
In this respect, the Himalayan Kingdom of Bhutan has been leading the way. Forty years ago, Bhutanâs fourth king, young and newly installed, made a remarkable choice: Bhutan should pursue âgross national happinessâ rather than gross national product. Since then, the country has been experimenting with an alternative, holistic approach to development that emphasizes not only economic growth, but also culture, mental health, compassion, and community. Dozens of experts recently gathered in Bhutanâs capital, Thimphu, to take stock of the countryâs record. I was co-host with Bhutanâs prime minister, Jigme Thinley, a leader in sustainable development and a great champion of the concept of âGNH.â We assembled in the wake of a declaration in July by the United Nations General Assembly calling on countries to examine how national policies can promote happiness in their societies.
All who gathered in Thimphu agreed on the importance of pursuing happiness rather than pursuing national income. The question we examined is how to achieve happiness in a world that is characterized by rapid urbanization, mass media, global capitalism, and environmental degradation. How can our economic life be re-ordered to recreate a sense of community, trust, and environmental sustainability? Here are some of the initial conclusions. First, we should not denigrate the value of economic progress. When people are hungry, deprived of basic needs such as clean water, health care, and education, and without meaningful employment, they suffer. Economic development that alleviates poverty is a vital step in boosting happiness.
