Reasons Gdp Is an Inadequate Method of Quantifying a Nations Well Being.
I wrote an essay on this. And now I'm obsessed. Slight deviation from the anxious young women theme of previous lists. Will get back in brand soon. Suggestions welcome!
- •It does not take into account income inequality.
- •It entirely ignores sustainability, ecosystem value and damage being done to our environment.
- •It ignores unpaid services including housework, childcare, etc.Resulting in many women who choose to live at home being seen as not contributing to their country's economy.
- •If you choose to quit smoking or walk to work you are actively decreasing your country's national GDP.
- •It does not account for subsistence economies.
- •It ignores any source of pleasure that does not result in a monetary outcome.Religion, culture, etc.
- •It results in complacency against poverty.As Africa's GDP increases many assume poverty reduces automatically. Whereas often those in need are actually losing money.
- •Lots more reasons.