1.

Which of the following aspects are neglected in GDP?​

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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