Beyond Capitalism: How Bhutan’s GNH and Nordic Welfare Can Shape a Sustainable Future

“Happiness is not something ready made. It comes from your own actions.” — Dalai Lama XIV

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In my last article I stated that social integrity is defined ‘as a society where individuals and groups consistently act in accordance with shared values and ethical principles, aligning individual actions with the wider societal goals and values.’ Naturally the question arises, what are the values that society must follow? Isn’t what we are doing in capitalism itself social integrity? Yes, but this form of social integrity is causing disequilibrium with biosphere integrity, thus causing a decline in planetary integrity. Therefore, any solutions that does not consider a shift in ideology, remains hollow pragmatism. Additionally, the ideology that must be adopted in the new system must increase planetary integrity.

One of the main problems concerns consumption and production. Based on economic theories from Adam Smith to modern-day neoclassical economics, consumers make rational choices to maximize their utility (satisfaction or benefit) given their income and preferences. Consumers then have the power to influence markets through their purchasing choices. Companies in return compete to attract buyers by offering better…