"The Canadian Index of Wellbeing, a dozen years in the making, is intended to do what standard economic tools such as Gross Domestic Product cannot — namely, to measure not just the economy, but how people and communities, the environment and our democracy are faring.
"Roy Romanow, former Saskatchewan premier and chair of the CIW advisory board, told the Star the project puts “scientific underpinning” to a widespread, intuitive sense that though the GDP might rise, circumstances for the majority of Canadians have not been keeping pace.
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"The GDP — that statistical star and the defining economic indicator for more than half a century — was never intended, its inventor said, to measure “the welfare of a nation.”
"For instance, spending on tobacco, war, cleaning up man-made disasters, building prisons — hardly measures of human progress — all cause the GDP to rise. Meanwhile, caring for an ailing relative, unpaid housework, volunteer work — all obvious goods — don't show up.
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"By comparison, the CIW takes into account the complexity and interconnectedness of human society. It offers a deeper understanding of what constitutes social and individual good. It speaks about relationships, social isolation enjoyment of life."
Full article: Toronto News: New Canadian Index of Wellbeing reveals how Canadians are really faring.
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