Is There A Better Tool For Economic Health Than GDP?

"There may be logic in the belief that wealth can measure well-being. Free-market prices are determined by supply and demand that can relate to how much better off individuals believe a good or service can make them. Greater wealth can mean greater access to things that can improve everyday life.

"And, it's conceivable that those who produce wealth in an honest way create the most value for others, in an economic sense.

"So, higher GDP might equate to greater human progress, because it means a greater amount or greater value of goods and services has been created.

"But does economic growth really mean that people are better off? Scratch a little deeper and you may find that GDP does not reflect this traditional view or actual economic value and health very well."

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