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Rethinking GDP: Measuring a Nation's True Welfare Beyond Economic Metrics

This analysis critiques the traditional measure of a nation's success—GDP—highlighting its limitations. Pioneers like Simon Kuznets and Robert Kennedy emphasized that GDP fails to account for essential aspects of well-being, such as environmental health, family quality, and community integrity. Their insights suggest that while GDP measures economic activity, it neglects crucial factors that contribute to the overall quality of life. This discourse invites a reevaluation of how we define and measure success in society, advocating for metrics that encompass human welfare, happiness, and environmental sustainability.

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Rethinking GDP: Measuring a Nation's True Welfare Beyond Economic Metrics

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  1. By Lakshimi Shree A.J.S., age 8, India

  2. before 1950 Hansen et al., Phil. Trans. R. Soc. A (2007) 365 James Hansen

  3. Our standard measure of success GDP Gross Domestic Product GDP = consumption + gross investment + government spending + (exports − imports)

  4. in his very first report to the US Congress in 1934: “...the welfare of a nation [can] scarcely be inferred from a measure of national income...” Simon Kuznets 1901-1985 (Inventor of the GDP)

  5. “The gross national product includes air pollution and advertising for cigarettes and ambulances to clear our highways of carnage. It counts special locks for our doors and jails for the people who break them. GNP includes the destruction of the redwoods and the death of Lake Superior. It grows with the production of napalm, and missiles and nuclear warheads... … it does not allow for the health of our families, the quality of their education, or the joy of their play. It is indifferent to the decency of our factories and the safety of our streets alike. It does not include the beauty of our poetry or the strength of our marriages, or the intelligence of our public debate or the integrity of our public officials. It measures everything, in short, except that which makes life worthwhile.” Robert Kennedy 1925-1968

  6. Peter Victor York University

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