IPD AI

GDP Is the Wrong Tool for Measuring What Matters

08/01/2020
Network Papers

Gross domestic product (GDP) is almost universally used to gauge how well a society is doing. In fact, it is a measure of market activity—no more.

The Great Recession of 2008–2009 highlighted the need for better ways to measure the well-being of an economy and society, as well as its sustainability—whether or not good times can last. Over the past decade leading scholars have devised a broad set of measures to help steer societies toward the futures their citizens desire. Several countries are embedding these “dashboard” indicators into their decision-making processes.