Gross domestic product (GDP) has long been the go-to statistic for assessing a country’s economic achievement. In recent years, however, many economists have grown critical of the metric’s ability to take an accurate pulse of society’s well-being. They have sought to develop more comprehensive indices, particularly ones that gauge citizens’ well-being instead of production. getAbstract recommends freelance journalist Loes Witschge’s clear, concise and jargon-free navigation of this important economic concept to anyone seeking more nuanced and holistic ways to measure a society’s well-being.
In this summary, you will learn
- How gross domestic product (GDP) became the go-to measure of economic achievement,
- Why the GDP metric is flawed and
- How to gauge progress better.
About the Author
Loes Witschge is head of digital at Delayed Gratification, the quarterly magazine from Slow Journalism.
Get the key points from this article in 10 minutes.
For your company
We help you build a culture of continuous learning.
Comment on this summary
Customers who read this summary also read
Princeton UP, 2015
Robert J. Gordon
Princeton UP, 2016
G. Andrew Karolyi
Oxford UP, 2015
Dennis Botman et al.