Beyond GDP: Who grows and at what cost?

Economic indicators are more than just tools for quantifying reality; they fundamentally shape our perception of it. Given their influence, it’s essential to critically examine these indicators' assumptions and oversights. For decades, GDP has been the primary gauge of economic health, yet its shortcomings are increasingly clear. As economies evolve to become more complex and diverse, GDP's ability to encompass the full spectrum of societal economic activities has diminished. It fails to account for unpaid labor, the environmental impacts of economic activities, or issues related to income distribution and inequality — all of which are crucial to genuine economic well-being. Hence, GDP growth does not necessarily correlate with improvements in living standards or the welfare of the majority, a trend starkly evident in recent decades.

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