Limitations of GDP and Economic Indicators

GDP

Gross Domestic Product; measures economic activity.

Nonmarket Transactions

Goods/services providing value not counted in GDP.

Toxic Waste Cleanup

Expense indicating societal harm, counts in GDP.

Jail Expenses

Costs reflecting societal issues, included in GDP.

Divorce Lawyers

Legal fees indicating societal distress, part of GDP.

Suicide Nets

Preventive measures for societal issues, counted in GDP.

Recycling Time

Valuable activity not reflected in GDP measurement.

Community Service

Volunteer work enhancing society, excluded from GDP.

Church Donations

Charitable contributions improving welfare, not in GDP.

Family Time

Quality time enhancing happiness, not counted in GDP.

Homemade Cards

Personal gifts reflecting care, excluded from GDP.

Standard of Living

Quality of life measurement beyond economic output.

Happiness Metrics

Measures focusing on well-being, not captured by GDP.

Economic Progress

Advancement in quality of life, beyond GDP focus.

Trade-offs of High GDP

Potential neglect of social welfare for economic growth.

Robert Kennedy Speech

Critique of GDP as a happiness measure.

Alternatives to GDP

Other metrics assessing well-being and progress.

Problems with GDP

Ignores non-economic factors affecting quality of life.

Opinion Articles

Discussions on GDP's limitations in measuring happiness.

Economic Measurement

Methods used to assess a nation's economic health.

Societal Well-being

Overall health of society, not captured by GDP.