Magnifica Humanitas §159

¹⁵⁹ It is important to move beyond the current metrics of development — which for more than eighty years have been tied to the concept of Gross Domestic Product (GDP) — since these metrics almost systematically neglect aspects essential to the overall wellbeing of people and the environment. The development of parameters and metrics complementary to GDP is crucial for improving the databases used for conducting analyses, political and economic decision-making and establishing regional, national and international priorities. The introduction of new parameters will allow for a comprehensive and timely assessment of how legislative and regulatory decisions impact the dignity of work, shared prosperity, inequality reduction and environmental protection. It will also affect the concept of development, educational processes, mindsets and public opinion, as well as peace, which is only authentic when based on justice.