3 ms·
I agree with your first paragraph, but GDP is the measurement of one thing, and one thing only: products and services produced. Should we compare the 'economic
by antr 12y ago
I agree with your first paragraph, but GDP is the measurement of one thing, and one thing only: products and services produced.
Should we compare the 'economic output' with other (in my opinion) equally important indices, like life expectancy, cost and access to healthcare, access to 'free' and universal primary/secondary/university education, income inequality, safety, etc, the concept of (social) productivity will definitely shift to other countries.
Don't get me wrong, I value GDP as much as almost any economist and finance minister, but all these other 'soft' factors are, to me, equally important.