Category

economics

GDP growth isn’t the only objective for society

By economics

GDP growth isn’t the only objective for society, though sometimes it seems to be the only measure of success that all our politicians endorse. There are arguably other more relevant measures of a nation’s success. This week the UK’s Office of National Statistics published its figures on life expectancy for 2015 to 2017; it shows that life expectancy in the UK is 79 years for men and 83 years for women.

Surely most of us would like to live longer, but it is currently a post code lottery.  In some regions of Scotland and the North you are likely to live 10 years less than people living in the South East. The reasons are unclear. As Southerners are not physically different than Northerners, it must be due to lifestyle issues like diet, exercise and drug consumption or stress related issues like poverty, caring and unemployment. These are factors that are in the power of society to change by policy, education and example.

Wouldn’t everyone welcome an initiative to improve life expectancy.  Shouldn’t life expectancy be high on the list of success factors for our society. Let’s encourage politicians, economists and civil servants to make it a national imperative.