Gross Domestic Product

GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world’s most powerful statistical indicator of national development and progress. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities, such as resource extractionenvironmental impact and unpaid domestic work. (Raworth, Kate (2017). Doughnut economics : seven ways to think like a 21st-century economist. London. ISBN 978-1-84794-138-1OCLC 974194745Archived from the original on 2021-04-29. Retrieved 2022-03-19.) Critics frequently propose alternative economic models such as doughnut economics which use other measures of success or alternative indicators such as the OECD’s Better Life Index as better approaches to measuring the effect of the economy on human development and well being.

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