Focus on economic growth has delivered huge increases in our material living standards since the postwar period. Gross domestic product, GDP, is almost universally used as the principal measure of economic success. But GDP has its limitations – as our resources decline and demands on our planet grow – the idea of endless material growth is misplaced. 

GDP doesn’t measure our children’s health, the quality of their education or the joy of their play; it doesn’t capture economic inequality, loneliness, climate decline and political disengagement.  COVID provided a timely reminder about what is essential for our economy – the providers: nurses, teachers, carers and supply-chain workers.  

We need to rethink the purpose of our economy, rethink what we value and how we measure. This will require community engagement and political courage. 

There's an emerging approach to public policy globally known as the wellbeing economy. Half the OECD countries have wellbeing frameworks,  

Australia was an early leader in measuring wellbeing, but progress has stalled in the last decade. We need to start a national conversation about what we value - identify the tensions and appreciate the unintended consequences and the trade-offs.  

What should we preserve? and what should we try to change?  Once we know what to measure, we can start breaking down silos and focus on outcomes. 

In my electorate UWA has been working with Aboriginal elders through its Good Spirit Good Life project to work out what Aboriginal elders value - connection with family and friends, with country and culture, health and happiness.