There has been a lot of conversation lately about the limitations of GDP. New Zealand, for example, is a leading example of a nation that's ditched GDP to focus on a happiness or well-being index instead. I want to get your view on how you think we should best measure living standards and also whether you think governments would actually change and adopt these new frameworks for looking at living standards. Get in now for great deals on Valentine's Day with Whole Foods Market.
When world-renowned economist Ha-Joon Chang first arrived in Britain in the 1980s he recoiled in horror at how dull and dreary British food was at that time. But it was not just the food that caused him to despair: it was mainstream economic thinking too. Neoclassical liberalism was, and still is, the only item he found on Britain’s menu of economic ideas. Rethinking that menu is the theme of his new book, Edible Economics: A Hungry Economist Explains the World. Through a series of culinary anecdotes Chang explains that just as a rich and varied diet nourishes the body, moving beyond the narrow confines of neoclassical economics can help to build a better and fairer world. Speaking with Chang for this episode is Victoria Scholar, Head of Investment at Interactive Investor.
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