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DescriptionHow does finance and the economy relate to the non-monetary wealth that represents a viable lifestyle, able to provide in substance (not just in dollars per day) a decent human life while allowing a future for subsequent generations?
The most prevalent measures of wealth like GDP (gross domestic product) are quite inadequate. For example, the economic activities of cleaning up pollution, destroying the forests, over-fishing the seas and supplying the military engaged in destructive warfare, are all included in GDP, as is the money generated by the enterprises that produce these damaging effects.
Our current economic system is founded on the necessity of growth, which many people are coming to recognize as unsustainable. It is also dominated by a monetary system that, as the predominant measure of value, encourages commodification and is divorced from a proper consideration of the intrinsic value of things and services. Mistaking money for value feeds an economic model that is then able to destroy true wealth, such as fulfilment and wellbeing.