Although there is no alternative to GDP yet, much progress has been made in researching it.
How should we measure economic success? Traditional key figures, especially GDP, have been criticized for years, if not decades, of blatant criticism. Environmentalists have long suggested that GDP ignores negative externalities such as depletion of natural resources and global warming.
And his failure to track down unpaid but undoubtedly important homework is another obvious flaw. But soon there may be better alternatives.
One directed by Joseph Stiglitz, Amartya Sen and Jean-Paul Fitoussi commission Efforts were launched in 2009 to find alternative ways of measuring economic progress by recommending “dashboards” of metrics. Since then, economists and statisticians, in collaboration with natural scientists, have made considerable efforts to develop stringent wealth-based measures of prosperity, particularly with regard to natural resources.