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Answer» GDP Is Not a Measure of Human Well-Being - GDP was not designed to assess welfare or the well being of citizens.
- It was designed to measure production capacity and economic growth.
- Yet policymakers and economists often treat GDP as an all-encompassing unit to signify a nation’s development, combining its economic prosperity and societal well-being.
- It’s time to acknowledge the limitations of GDP and expand our view of development to include welfare.
- A number of countries, including India, are paving the way.
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