Why we shouldn’t judge a country by its GDP
Gross Domestic Product has become the yardstick by which we measure a country’s success. But, says Michael Green, GDP isn’t the best way to measure a good society. His alternative? The Social Progress Index, which measures things like basic human needs and opportunity.
Analysts, reporters and big thinkers love to talk about Gross Domestic Product. Put simply, GDP, which tallies the value of all the goods and services produced by a country each year, has become the yardstick by which we measure a country’s success. But there’s a big, elephant-like problem with that: GDP only accounts for a country’s economic performance, not the happiness or well-being of its citizens. With GDP, if your richest 100 people get richer, your GDP rises … but most of your citizens are just as badly off as they were before.
That’s one of the reasons the team that I lead at the Social Progress…
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