Economists Measure Happiness

Gross Domestic Product, or GDP, is the main measure of economic performance. But some, including French President Nicolas Sarkozy, are searching for a more comprehensive reading of how people are actually faring – a sort of gross national satisfaction index.

Sarkozy has commissioned a new report, co-authored by Nobel Prize-winning economists Joseph Stiglitz and Amartya Sen. They write that the health of the environment, household income, and quality of life also need to be factored in. Read more about the report at The Economist.

This is old news for the tiny Himalayan nation of Bhutan. Way back in 1972, their government coined the term "gross national happiness" and made it the nation's top priority.

How do you think the true state of the economy should be measured? Leave a comment below!

(Photo by Tranuf via Flickr/Creative Commons)