#57 - Joseph Stiglitz: let's replace GDP
Today's episode from 23rd September 2021. On this morning's show: Is it RIP for GDP? Whilst gross domestic product (GDP) has been used as the core identifier for a country's prosperity since the 1940's, is it time for a new measure? We explore economist Joseph Stiglitz's dashboard, which takes into account some crucial other aspects of ensuring the well-being of a nation. Then later, we discuss the pros and cons of turning your hobby into your income. Nobel Prize-winning economist Joseph E. Stiglitz studies examples that show a detachment between GDP and societal well-being, illustrating how it fails to be a good measure of economic performance. In the Scientific American, he argues that it is time to replace GDP with accurate metrics of well-being that include environment, inequality and sustainability of an economy. Artist and writer Marian Bull explores the transformation of the ceramics hobby into a full-time job. Here, she reflects on the fetishisation of the side puzzle and the risk of turning Hobbes ‘a mirage of leisure that quickly turns to obligation’, leaving many in need of another outlet for inspiration and creation. Wake up with Curio is a different kind of morning show that gives you the context behind the news and gets you motivated for the day ahead, every Monday - Friday.
From Wake up with Curio