Even if we act to erase material poverty, there is another greater task; it is to confront the poverty of satisfaction – purpose and dignity – that afflicts us all. Too much and for too long, we seemed to have surrendered personal excellence and community values in the mere accumulation of material things. Our Gross National Product, now, is over $800 billion a year, but that Gross National Product … counts air pollution and cigarette advertising, and ambulances to clear our highways of carnage. It counts special locks for our doors and the jails for the people who break them. It counts...

Much of modern life is based upon a false logic, a logic that assumes that happiness and well-being come from financial prosperity.

There are two main reasons why this assumption is wrong. First, once basic material needs have been met, there is very little evidence that pursuing financial prosperity generates much extra happiness for individuals or for nations. Second, by blindly pursuing economic growth, we are creating a whole set of social and environmental issues that will undermine the potential happiness and well-being of future generations.

The time is ripe for our measurement system to shift emphasis from measuring economic production to measuring people’s well-being. And measures of well-being should be put in a context of sustainability.