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August 19 2022 5:41 AM ˚
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Looking past GDP to measure success

4 Economic Dignity
Economic dignity
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When Gene Sperling was in charge of coordinating economic policy in the Obama White House, he found himself surprised when serious people in Washington told him that the Obama focus on healthcare was a distraction because it was “not focused on the economy.”اضافة اعلان

How, he asked, was the fear felt by millions of Americans of being one serious illness away from financial ruin not considered an economic issue? Too often, Sperling found that we measured economic success by metrics like GDP instead of whether the economy was succeeding in lifting up the sense of meaning, purpose, fulfillment, and security of people.

“Economic Dignity” is Sperling's effort to do just that — to frame our thinking about the way forward in a time of wrenching economic change. His argument combines moral and intellectual seriousness with actual high-level policy experience. Economic dignity, Sperling maintains, can be seen as resting on three pillars.

The first: the capacity to care for family without economic deprivation denying people the capacity to experience its greatest joys. The second: the right to the pursuit of potential and purpose, including the right to first and second chances. The third: economic participation with respect and without domination and humiliation. All three pillars are rooted in the highest and most noble values of the American project.

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