ReConsidering GDP

Recently Erik saw an article in which nobel-winning economist Joseph Stiglitz says an obsession with looking at GDP has become a problem:

“The world is facing three existential crises: a climate crisis, an inequality crisis and a crisis in democracy,” he writes. “Yet the accepted ways by which we measure economic performance give absolutely no hint that we might be facing a problem.” 


“If we measure the wrong thing, we will do the wrong thing,”


Do we need to reconsider how useful GDP can be as a measure of economic health?


 

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