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Enrichment

Is national happiness going to be a better way to measure economies than GDP, in 2020? [Year 12 Enrichment Task]

Year 12 economics students are likely to have studied the various measures of national happiness, or wellbeing, as alternatives to GDP. With the GDP of the UK predicted to shrink by up to a third, and the Chancellor Rishi Sunak saying this week that we should not expect a swift recovery, this may be a good moment to evaluate the usefulness of an economic measure of national happiness, instead of GDP.

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