Acharya Prashant explains that welfare or wellness is ultimately an internal experience within the experiencer, regardless of where the object of that experience lies. Whether the pleasure comes from a tangible object like a building or an intangible one like a memory, the experience is always subjective and happens within. When discussing human welfare, we are essentially talking about something internal to the human being. While the cause of wellness or its absence might seem external, the effect is always experienced within. This internal experience is only partially a function of external conditions. For example, Japan is one of the wealthiest countries, yet its people are known to be among the unhappiest. Conversely, people in impoverished nations are also internally unwell due to material poverty. The speaker argues that up to a certain point, human welfare is indeed material welfare, and basic material prosperity is necessary. However, in most of the developed world, this point has long been surpassed. Beyond this threshold, there is no incremental return in internal wellness from an increase in external abundance; the curve flattens and can even become an inverted U-shape. The world has reached a stage where external growth is saturated and will no longer help. Insisting on more external growth will lead to catastrophic results for the planet. Further wellness for humanity will not come from external growth or GDPs, but from internal growth and an internal ascension. The future of economics, if it is truly about welfare, must converge with spirituality. The concept of progress itself needs a fundamental transformation. The speaker asserts that the time for external growth is over, and now we need internal growth. The old economic idea that human welfare is measured by material availability is outdated. The new economics must be about internal wellness, asking questions about a person's peace, understanding of life, and love, rather than just their consumption levels.