Why We Must Redefine Prosperity
Redefining Prosperity: Beyond Capitalism and GDP to a Sustainable Future — Earth-Aligned Prosperity Index© (EPI)
For too long, the narratives of Capitalism and GDP growth have dominated our definitions of success, shaping our economies, policies, and societies.
Yet Capitalism and GDP are fundamentally flawed, promoting a narrow vision of prosperity that sacrifices equity, well-being, and the planet itself.
As we face unprecedented social and environmental crises, we must dismantle these outdated paradigms and redefine sustainable prosperity.
Capitalism is Ethically Bankrupt
Despite its global acceptance, capitalism has been subject to little scrutiny regarding its ethical foundations. The system rewards power and greed, creating a severe imbalance where the top 1% controls nearly half of the world’s wealth. This entrenched inequality exposes capitalism’s moral shortcomings, as it consistently elevates profit over people, deepening economic divides and leading to widespread environmental degradation.
Despite capitalism’s failures, its influence persists, creeping into political realms with potentially dire consequences. The possible re-election of figures like Donald Trump exemplifies how capitalist power dynamics can undermine democratic principles. When wealth determines political outcomes, democracy is compromised, giving rise to a system where the few control the fate of the many. This represents capitalism’s ultimate flaw: a structure that prioritises the wealthiest at the expense of the collective good.
GDP*: An Obsolete Metric for Progress
Since the mid-19th century, GDP has been the measure of a nation’s success, representing an era of fossil-fuel-driven growth and unchecked consumption.
Yet GDP’s narrow focus on economic output overlooks critical elements of societal health and happiness. As the “hockey stick of doom” reveals, the relentless growth in GDP has been paralleled by an equally steep rise in CO₂ emissions, underscoring the environmental cost of an obsession with economic expansion.
However, this pursuit has come at a grave cost to Earth’s natural systems, including our atmosphere. It’s time to challenge this narrative and envision a future where prosperity is not merely a reflection of economic output but a holistic measure of societal well-being. Can you imagine a society where progress is defined not by profit margins but by the enrichment of human life and the preservation of our planet? This challenge is not insurmountable but a call to action that empowers us to shape a better future.
“Prosperity Tuned to Earth’s Rhythm©” — a Call to Redefine Wealth
In the face of these challenges, it’s clear that we need a new measure of prosperity. Greenpeace’s “Growing the Alternatives” report offers an inspiring alternative, calling for economies to prioritise people and the planet over profit and endless growth.
“Prosperity Tuned to Earth’s Rhythm©” vision emphasises metrics beyond GDP. Such metrics value ecological balance, social equity, and collective well-being.
As Paula Tejón Carbajal from Greenpeace’s Alternative Futures Campaign argues, the current attachment to GDP reflects a failure of imagination. We are trapped in an archaic paradigm that undervalues the essence of human happiness and environmental sustainability. True prosperity should resonate with the rhythms of nature, aligning economic systems with the preservation of our planet and the holistic health of society.
Paula outlines a hopeful vision, showcasing communities prioritising circular economies, equitable wealth distribution, and genuine democratic participation. In these models, growth is not measured by GDP but by metrics that reflect human and environmental health. These communities offer tangible examples of what it means to live within Earth’s ecological boundaries while fostering social cohesion and inclusivity.
Generation Z: Shouldering the Legacy of GDP-Focused Growth
Born into an era of fossil-fuel dependence and relentless economic expansion, Generation Z now faces the daunting task of addressing the fallout of GDP-focused growth. From climate change to socioeconomic disparities, this generation is forced to contend with the consequences of a world prioritising short-term profit over long-term sustainability.
Generation Z is not merely cleaning up a mess; they are redefining progress, advocating for sustainable development, and demanding systems that align economic pursuits with ecological and social balance. Their role is inherently transformative, offering hope and inspiration as they guide society toward a future where prosperity encompasses human happiness, environmental stewardship, and social justice.
A New Vision for True Prosperity
At this pivotal juncture, we are called to move beyond capitalism and GDP to a vision of prosperity that values people and the planet over profit. The path forward requires us to embrace alternative growth models inspired by communities and movements already paving the way.
These models challenge us to shift our focus from economic gain to the well-being of all life on Earth, fostering societies that measure success by the health of our environment and the happiness of our people. Policymakers play a crucial role in this transition, as they are the ones who can institutionalise these new measures of prosperity.
This is the essence of my concept “Prosperity Tuned to Earth’s Rhythm©” — prosperity that transcends financial wealth, embodying a harmonious existence with nature and each other. As we reimagine our collective future, the question is whether we can redefine prosperity and are willing to embrace a vision that honours humanity and the planet.
In redefining success, we can cultivate a world where progress means enhancing human life, preserving our planet, and fostering equity. This is the call to action: to reshape our values, dismantle outdated metrics, and forge a path where our commitment to harmony, sustainability, and justice measures true prosperity.
If true prosperity is indeed measured by our commitment to harmony, sustainability, and justice, a fitting term for this metric might be:
“Earth-Aligned Prosperity Index© (EPI)”
This index prioritises ecological balance, social equity, and collective well-being over economic growth. Unlike GDP, which values quantity and growth speed, the EPI measures progress by how well our societies preserve and regenerate natural systems while fostering justice and sustainable communities.
Why the “Earth-Aligned Prosperity Index©”?
- Earth-Aligned: This underscores a prosperity model that respects the planet’s ecological boundaries, aligning economic actions with the rhythms of nature rather than exploiting them.
- Prosperity: This term goes beyond material wealth, encompassing quality of life, environmental stewardship, and social cohesion.
- Index: As a holistic metric for policy and decision-making, capturing human and environmental well-being through tangible and diverse indicators like biodiversity, air and water quality, mental health, equitable income distribution, and educational access.
This shift from GDP to an Earth-Aligned Prosperity Index© represents more than an economic recalibration; it embodies a new narrative for humanity that respects people and the planet as integral to true prosperity.
Guided by the Earth-Aligned Prosperity Index©, growth becomes restorative rather than extractive. Restorative growth is about replenishing what we take from the Earth, ensuring that our actions contribute to the health and well-being of the planet. It’s about creating an enduring foundation for future generations rather than depleting resources for short-term gain.
*The Origins of GDP Measurement
The concept of Gross Domestic Product (GDP) as a metric for gauging a nation’s economic performance has its roots in the early 20th century. It was not until the Great Depression and the aftermath of World War II that it gained prominence. Pioneered by the economist Simon Kuznets in the 1930s, GDP was initially designed to provide a clear picture of economic activity during unprecedented economic turmoil. It was intended to measure the total value of goods and services produced over a specific period, offering governments a tool to guide policy decisions. However, Kuznets himself cautioned against using GDP as a sole measure of a country’s well-being or success, noting that it does not account for the distribution of income among residents of a country, nor does it consider the depletion of natural resources. Despite these caveats, GDP became the cornerstone metric for economic progress, adopted globally as the standard yardstick for measuring the economic prowess of nations.
About the author: Greg Twemlow, Founder of XperientialAI©.
Greg Twemlow: “Empowering future leaders and organizations by designing and delivering AI-integrated experiential learning programs that blend technology, ethics, and philosophy. Through consultancy, mentorship, innovation coaching, and thought leadership, I help CEOs, business leaders, and individuals ethically and efficiently implement AI solutions while fostering a culture of trust, integrity, and wisdom in an AI-driven world.” Contact Greg: greg@xperiential.ai
