Given the limitations of using GDP as a measure of well-being, should calculation of GDP be scrapped

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Given the limitations of using GDP as a measure of well-being, should calculation of GDP be scrapped in favour of wider reporting of well-being such as objective and subjective well-being?

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Economics

ISBN: 9781473768543

5th Edition

Authors: Gregory Mankiw, Mark P. Taylor

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Question Posted: Apr 26, 2024 02:01 AM

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What are the limitations of using GDP as a measure of well-being for a country?
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Given the limitations of using GDP as a measure of well-being, should calculation of GDP be scrapped

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The question of whether GDP Gross Domestic Product should be scrapped in favor of wider reporting of wellbeing including objective and subjective wellbeing is a complex and nuanced issue While GDP is ...View the full answer

Economics

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