Michael T. Jackson is a former Belvedere, California resident who leads SFG Asset Advisors, a firm offering a full range of investment services. One area of concern for Michael T. Jackson is the long-term economic and social impact of wealth concentration.

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A Look toward
Well-Being as a
Country's Indicator
of Progress
Michael T Jackson

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Introduction
 Michael T. Jackson is a former Belvedere, California
resident who leads SFG Asset Advisors, a firm offering
a full range of investment services. One area of
concern for Michael T. Jackson is the long-term
economic and social impact of wealth concentration.
A current shift in thinking involves moving past
economic growth as the primary measure of a
country’s progress and taking into consideration the
well-being captured in happiness indices.
Unfortunately, GDP only captures the flow of money,
rather than the way accumulated wealth is distributed
and how it impacts people’s lives.

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Well-Being
 In regard to a country’s development, the point of debate is
too often limited to saving time and generating economic
growth. But a high GDP does not ensure that all citizens have
fair access to job opportunities, housing, and other indicators
of social value and quality of life in developed countries.
In May 2019, New Zealand announced it will become the first
country to measure its performance based on wellness
indicators rather than GDP alone. Though the country has
experienced a high growth rate, mounting social issues, such
as increasing rates of individuals experiencing homelessness,
have increased as well. As described by finance minister
Grant Robinson, New Zealand’s Budget Policy Statement will
now include a well-being outlook in addition to an economic
and fiscal outlook. Priorities include reducing child poverty and
supporting mental health wellness.