For over 70 years economics has been fixated on GDP, or national output, as its primary measure of progress. That fixation has been used to justify e… - Kate Raworth

Today we have economies that need to grow, whether or not they make us thrive. What we need are economies that make us thrive, whether or not they grow.

By largely ignoring the core economy, mainstream economics has also overlooked just how much the paid economy depends upon it. Without all that cooking, washing, nursing and sweeping, there would be no workers — today or in the future — who were healthy, well-fed and ready for work each morning.

in 1767 — just 40 years after Newton’s death — when the Scottish lawyer James Steuart first proposed the concept of ‘political economy’, he defined it no longer as an art but as ‘the science of domestic policy in free nations’. But naming it as a science still didn’t stop him from spelling out its purpose: The principal object of this science is to secure a certain fund of subsistence for all the inhabitants, to obviate every circumstance which may render it precarious; to provide every thing necessary for supplying the wants of the society, and to employ the inhabitants (supposing them to be free-men) in such a manner as naturally to create reciprocal relations and dependencies between them, so as to make their several interests lead them to supply one another with their reciprocal wants.