GLS bank
Bochum (ots)
The government has recognized that GDP alone is not a sufficient indicator of successful economic policy. Non-financial, socio-ecological aspects are also included in the analysis. But the proposal is not bold enough, according to the GLS Bank.
We at GLS Bank are pleased that the federal government also includes the development of non-financial aspects in its analysis and interpretation of the previous financial year in the current annual economic report.
Our board spokeswoman Aysel Osmanoglu says:
“I very much welcome the fact that the federal government wants to measure prosperity based on social criteria in addition to GDP. Because a good life does not mean accumulating as much capital and possessions as possible. A good life is characterized by health for people and nature, fair educational and career opportunities, fair participation and a functioning infrastructure. These are also the prerequisites for a strong democracy.”
From our point of view, the gross domestic product (GDP) as a key figure has little to do with the values that express the true prosperity of a society. If we want to understand prosperity in terms of a good life, economists must also include social issues and ecological values in addition to purely economic aspects such as growth. They are not only the foundation of a healthy economy. Rather, they should be the meaning and purpose of our economic activity. The new kind of prosperity also recognizes the need for healthy ecosystems and stable social foundations for a functioning economy as well as for a thriving democracy.
Unfortunately, according to the report, pure economic growth remains the primary goal of German economic policy. However, non-financial criteria are mentioned in the report. We at GLS Bank want to encourage the federal government to take further steps towards a real paradigm shift. Economic growth must not be an end in itself. When it comes to the question: How prosperous is Germany? Then biodiversity, social equality, equality issues, promotion of democracy and the fight against the climate crisis must also be included.
In addition, it would make sense to steer the economy according to precisely such aspects. In other words, measures should be based on precise socio-ecological indicators. For example, the success of German economic policy could be measured in addition to GDP by the fact that the Gini coefficient has risen. This would indicate that the gap between rich and poor has narrowed. A higher mean species abundance would also be an indicator of success.
Only when we no longer look at economic strength separately, but learn to understand it systemically as an aspect of social development, can an economic policy be conceived holistically and thus serve people and nature.
Press contact:
Angelica Ivanov
Luke Feldman
[email protected]
T: +49 (0) 234 5797 5340
M: +49 (0) 172 5697 993
GLS bank
Christstr. 9
44789 Bochum
Original content from: GLS Bank, transmitted by news aktuell
