Gross National Happiness

A NEW LEARNING
Most countries define quality of life by the measure of GNP or Gross National Product. GNP is the total dollar value of all final goods and services produced for consumption in society during a particular time period (i.e. one quarter or one year). A more accurate gauge of health is the GDP Gross Domestic Product which takes into account not only income from goods and services but also cost of labour and property. Countries measure their GNP and GDP by comparing with other countries.

High in the Himalayan mountains is the country of Bhutan with 600,000 people who measure their progress as a nation by placing higher value on spiritual development. Assessing quality of life in more holistic and psychological terms they tag their measurement vehicle the GNH or Gross National Happiness. This term was conceived by the Bhutanese and officially embraced in 1972. Bhutan is the world’s youngest democracy and it held elections for the first time in March 2008. Notwithstanding this, Bhutan still has a monarch, having crowned its fifth king, 28 year old Jigme Khesar Namgyel Wangchuck on November 6, 2008. He succeeds his father King Jigme Singye Wangchuck to become the world’s youngest reigning monarch. The new king is an Oxford educated bachelor who has promised to maintain a protectionist posture against globalization’s most evil features. He will maintain the GNH coined by his father when bringing this unique culture based on Buddhist spiritual values into the age of modernization.

GNH value is proposed to be an index function of the total average per capita of the following measures:
1. Economic Wellness: Indicated via direct survey and statistical measurement of economic metrics such as consumer debt, average income to consumer price index ratio and income distribution
2. Environmental Wellness: Indicated via direct survey and statistical measurement of environmental metrics such as pollution, noise and traffic
3. Physical Wellness: Indicated via statistical measurement of physical health metrics such as severe illnesses
4. Mental Wellness: Indicated via direct survey and statistical measurement of mental health metrics such as usage of antidepressants and rise or decline of psychotherapy patients
5. Workplace Wellness: Indicated via direct survey and statistical measurement of labor metrics such as jobless claims, job change, workplace complaints and lawsuits
6. Social Wellness: Indicated via direct survey and statistical measurement of social metrics such as discrimination, safety, divorce rates, complaints of domestic conflicts and family lawsuits, public lawsuits, crime rates
7. Political Wellness: Indicated via direct survey and statistical measurement of political metrics such as the quality of local democracy, individual freedom, and foreign conflicts.

Can anything be learned by Canadians and Americans from Bhutan’s example?

Thanks to the Reuters News Service and Royal Government of Bhutan for its Handout

Comparative Economic Stimulus Outlooks

A NEW LEARNING
I want to write something comic but here I am in the realm of the somber again. World leaders announced plans in recent months to spend their way out of the global economic slowdown. Governments are scrambling to push their sluggish economies forward — almost always through more spending. At a meeting in Washington earlier in November, members of the Group of 20 nations agreed that they would individually draw up economic stimulus plans that would equal about two per cent of Gross Domestic Product in each of their countries.

Canada’s present status looks like this. Canada has not offered a spending package yet, hence the disgraceful bickering in Ottawa, but will in the next Conservative budget in January 2009 or in a Coalition Government’s budget should this partnership be sustained and be given the ooportunity to govern in the future. The Conservative Government’s position to date was that Canada had already introduced stimulus of 1.4% of Gross Domestic Product in 2008 and 2% next year and had taken measures to reduce GST. Finance Minister Flaherty contends that other countries have been trying to catch up to Canada contending that Canada acted in advance.

Here is a glimpse at how other countries are addressing this global downturn.
European Union has an Economic Recovery Plan containing the promise of stimulus representing 1.5 % of the EU Gross Domestic Product to the tune of 200 billion euros ($317 billion Cdn) over two years.
Brazil’s government is expected soon to announce its stimulus plans in view of its decreasing economic activity.
Mexico presented a $4.4 billion US ($5.4 billion Cdn) economic stimulus package in October designed to create jobs in light of its vulnerability to the U.S. slowdown.
Taiwan plans measures worth $482.9 billion ($18 billion Cdn), spread over four years, which includes $82.9 billion ($3 billion Cdn) in shopping vouchers to be used before Oct 1 2009.
Japan’s government pledged five trillion yen ($65 billion Cdn) in stimulus offerings to households and small businesses.
Australia will boost its economy 1 % of GDP with a $10.4 billion ($8.4 billion Cdn) strategy designed to support low and middle class families, help first time home buyers and training for jobs.
Italy plans a five billion euros (about $8 billion Cdn) package, or less than 0.5 per cent of the GDP to help banks, companies and families.
France will support its automobile and building industries with a 19 billion euro ($30 billion Cdn) package.
Germany over the next two years will effect a stimulus package worth 23 billion euros ($36 billion Cdn) and the package includes tax breaks on new cars and credit assistance to companies.
China will spend about four trillion yuan ($722 billion Cdn) over the next two years on infrastructure and social welfare, low cost hosing, transportation, health, education and technology and rebuilding disaster struck areas.
Britain announced an economic stimulus package worth 20 billion pounds ($37 billion Cdn). The amount is about 1 % of Britain's gross domestic product. The VAT or value-added tax is being reduced from 17.5%to 15%.
United States of America has already signed into law a $107-billion US economic stimulus package including help to low and middle income families, a $700-billion bailout of the financial services industry, and plans to finance another $800 million US (almost $1 billion Cdn), to make lower mortgage rates and other consumer loan rates possible.

Harper has his reprieve until January 26 2009. Our news until then will be full of nasty name calling and juvenile sniping from four quarters. It would be comic if this were not our national governing system! I'm doing my part. I am spending. I bought another Horton's coffee.