GDP is an objective measurement of a (somewhat) tangible thing (the economy). The measurement has value--it lets you know how the economy is doing. This directs

GDP is an objective measurement of a (somewhat) tangible thing (the economy). The measurement has value--it lets you know how the economy is doing. This directs monetary policy and fiscal policy. You can add any new metrics you want, but 'replacing' GDP strikes me as a good idea only if you want to hide the economic impact of collectivist policies behind a veneer of vague, hand-wayvy 'measurements' like 'human benefit'.