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The GDP is often used to measure the well-being of a nation. However, it only measures the "gross", not the "net". Such costs as the impact of the manufacturing of cars on the environment and the costs of income inequality are not factored into the equation. There is more to people's well-being than producing goods.
By John Brancaccio | Matt Kerr4.9
4848 ratings
The GDP is often used to measure the well-being of a nation. However, it only measures the "gross", not the "net". Such costs as the impact of the manufacturing of cars on the environment and the costs of income inequality are not factored into the equation. There is more to people's well-being than producing goods.