Limits of the Relevance of the GDP indicator
Limits of the Relevance of the GDP indicator

Summary/Abstract: Often, in different economic and social analyses, GDP has come to take on the role of a complete indicator of the global development of society and progress in general. However, only the use of GDP as a measure of well-being necessitates an ongoing campaign to change the perspective to guide policies and evaluate progress. Is needed indicators that promote truly sustainable development that improves human life quality and correctly reflect the degree of social welfare. Citizens deserve an accurate sense of how well their economies are performing, with a view to long-term sustainability. GDP has and always will have valuable short-term insights, but to respond to 21st-century pressures we need modern economic indicators. Critiques of the GDP make way for other measures of progress and well-being to be recognized and used more comprehensively.

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