A better way to measure the nation’s wellbeing | Letter
Dr Jon Mulberg on why GDP isn’t the best gauge of economic healthThe use of alternative metrics to GDP has a long history within the environmental movement (Housework to green energy: the new markers of growth in rival metric to GDP, 19 November).GDP was never meant to be a measure of national or even of economic wellbeing. It simply measures sales, and is always the same figure as national expenditure. The person who invented the measure – Simon Kuznets – called it national income, which it also mirrors. Continue reading...
Dr Jon Mulberg on why GDP isn’t the best gauge of economic health
The use of alternative metrics to GDP has a long history within the environmental movement (Housework to green energy: the new markers of growth in rival metric to GDP, 19 November).
GDP was never meant to be a measure of national or even of economic wellbeing. It simply measures sales, and is always the same figure as national expenditure. The person who invented the measure – Simon Kuznets – called it national income, which it also mirrors. Continue reading...
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