Tag: gdp
Should GDP be the only measure of economic growth?
Apr 5, 2023, Posted by Nia Latham
Gross Domestic Product (GDP) is a valuable measure of economic growth, but it is important to recognize that it is not the only measure. GDP does not take into account important social factors such as quality of life, healthcare, education, and environmental sustainability. Other metrics such as Gross National Happiness and the Human Development Index measure economic growth from a more holistic perspective. It is important to consider these metrics when evaluating the economic health of a nation, as they provide a more complete picture of its citizens' wellbeing.
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