Money • 26.03.2021
GDP is a flawed guide to prosperity. What else should we measure if we want to do better? “The welfare of a nation can scarcely be inferred from a measurement of national income”. Those were the words of Simon Kuznets, who developed the first national income accounts in the United States. And yet, we look back on decades of appropriating GDP as a measure of social welfare and progress. With t...
Work • 03.02.2021
As the current default indicator for economic and social ‘progress’, GDP is the most broadly established measure of a country’s economic performance relative to that of other countries. Conceived as a tool to measure economic quantity, GDP is widely used to assess economic quality, although it ignores a range of vital economic activities, most notably care work. On top of that, the race for GD...
