ICELAND MOVES TO “HAPPINESS ECONOMY”


06/12/2019




Serhat TUNAR  -TDO- Icelandic Prime Minister Katrin Jakobsdottir said her country was working on an economic model based on citizen happiness and suggested other countries adopt similar policies. Jakobsdottir says at every turn that economic growth-oriented policies should be replaced by family friendly, environment-oriented policies.

In a speech at Chatham House, in London, Iceland's prime minister called this model, which cares about people's body and mental health, "the economics of happiness." This economic model will take into account social indicators rather than gross domestic product, Jakobsdottir continued his speech as follows:

"It has been nearly 50 years since Kennedy said that gross national product is calculated by excluding what makes life worthwhile. When evaluating economic growth, we should also focus on how that growth is realized. Despite all its shortcomings, growth figures are regarded as the key element of economic success. The model of happiness economy advocated by US, Scotland and New Zealand is aimed at the happiness of today and future generations within the framework of the UN Sustainable Development Goals."


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