Measuring Genuine Social Progress

Abstract

Nations need indicators that mesaure progress towards achieving their goals - economic, social and environmental.People want to see true measures of success, not just economic measurements that track financial activity. So why are we still using Gross Domestic Product (GDP) to gauge our successes? Standard economic indicators, like GDP, are useful for measuring just one limited aspect of the economy - marketed economic activity - but GDP has been mistakenly used as a broader measure of welfare.