Environmental Science
2 years ago

GDP Fails to Capture True Economic Welfare, Genuine Progress Indicator Offers Holistic Insight

IGI Global eBooks
Strategic Perspectives on the Genuine Progress Indicator and Gross Domestic Product
Alexander M. Tolksdorf, Terry Lee Howard, Gregory W. Ulferts

Paper Summary

The article compares the Genuine Progress Indicator to Gross Domestic Product as measures of economic well-being. GDP only looks at real output, while GPI considers more factors. The study aims to see which measure is better for understanding economic health.

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