Ideas change everything

An alternative to GDP that factors in our wellbeing

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Douglas Beal |

TED@BCG London

• June 2015

Most economists agree that GDP, the most widely used measure of a country's success and growth, is a poor indicator of the overall wellbeing of a nation. Doug Beal created an alternative index that measures not just wealth but wellbeing. The new gauge takes into account such factors as income equality, sustainability and education. Beal shares insights on the development of the index and reveals how it offers a new perspective on which countries are the real winners and losers in the global economy.

Most economists agree that GDP, the most widely used measure of a country's success and growth, is a poor indicator of the overall wellbeing of a nation. Doug Beal created an alternative index that measures not just wealth but wellbeing. The new gauge takes into account such factors as income equality, sustainability and education. Beal shares insights on the development of the index and reveals how it offers a new perspective on which countries are the real winners and losers in the global economy.

About the speaker

Douglas Beal

Global economic visionary

Douglas Beal is a Partner and Director in BCG's Social Impact practice and serves as a Global Leader of the Total Societal Impact Initiative. His experience and expertise include national development strategies, sector development strategies and enablers of overall economic and socioeconomic progress. He earned his Bachelor in Science from Cornell University and an MBA from Columbia University.

About TED Institute

Every year, TED works with a group of select companies and foundations to identify internal ideators, inventors, connectors, and creators. Drawing on the same rigorous regimen that has prepared speakers for the TED main stage, TED Institute works closely with each partner, overseeing curation and providing intensive one-on-one talk development to sharpen and fine tune ideas. The culmination is an event produced, recorded, and hosted by TED, generating a growing library of valuable TED Talks that can spur innovation and transform organizations.

Read more about the TED Institute