Measuring Quality of Life
Measuring Quality of Life
GDP (Gross Domestic Product) is convenient for economists and politicians, but it misleads us into thinking an increase in GDP makes us better off. More guns, worse natural disasters, and private prisons add to GDP, but show us that not every contribution to GDP improves our lives.
Measures of the improvement in the quality of our lives is vastly more important. Unfortunately, GDP is easier to…
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