What follows below is the full parliamentary speech delivered by Nominated Member of Parliament Viswa Sadasivan two days ago (19/7/2010) in Parliament (this was shared by a friend of mine on Facebook).
Looking Beyond GDP For Progress
Preamble
1. Mr Speaker, Sir, I thank you for giving me the opportunity to move this motion. Before commencing my speech, I would like to convey my congratulations and gratitude to the government for steering an impressive economic recovery – far exceeding expectations.
2. The Gross Domestic Product or GDP, and in some cases, the Gross National Product or GNP, has been and, I foresee, will continue to remain the most commonly used indicator of economic performance and growth. This speech will not contest that reality.
3. My intent in making this speech is to highlight that the changed circumstances today require a broader framework where policy makers have the benefit of being prompted by socio-economic indicators other than GDP. This helps us better address important issues that are not strictly economic in nature, such as aspiration, equity and happiness which in turn have an increasing impact on national goals such as sustained economic growth, productivity, innovation, work-life balance and, of course, procreation.