Trevor Hancock: GDP is not a useful measure of well-being

The way we define and measure progress in our communities, nationally and globally, really matters. It shapes the decisions we make in every realm of life, from social development to environmental and economic policy.So it is a big problem that two of the leading indicators — gross domestic product and life expectancy — are misleading, resulting inevitably in poor decisions. Since these are the basis for two of the three main indicators in the UN Human Development Index (the third is education), the implications for global development policies are also troubling.

Source: Trevor Hancock: GDP is not a useful measure of well-being

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