GDP is a terrible measure of economic progress
GDP is a terrible measure of economic progress.
GDP measures the monetary value of goods and services produced in a country in a given period of time.
But it fails to take into account all the non-monetary costs and losses that make that growth possible.
In other words, the economy grows but at what cost to our culture, health, genetics, posterity, future, environment, nation, commons, etc.?
Whats the GDP value of my wife holding our child and teaching him how to speak? Or her cooking food vs eating out is probably GDP negative. Or me taking the kids for a walk?
Measuring progress only in money as GDP incentivises the burning of all other capital to maximize finances. Thats the road to extinction.
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