New GDP Alternatives Offer Better Measure of National Well-being.
The article compares and analyzes 25 alternative GDP systems developed by 11 international organizations, 10 OECD countries, and 4 cities. These systems aim to overcome the limitations of GDP as a measure of national well-being. Each index reflects unique features for measuring quality of life, sustainability, or societal vision. The methods include multidimensional indicators in various fields, presented as single indices or dashboards. The key implication is that new indices should consider sustainability, represent national well-being, include non-economic activities, and balance quantitative and qualitative aspects. The discussion highlights the need for ongoing debate in developing alternative indices beyond the limitations of GDP.