Pandemic recovery will take more than soaring growth – to fuel a more equitable economy, countries need to measure the well-being of people, too
- Written by Bas van Bavel, Distinguished Professor of Transitions of Economy and Society, Utrecht University
Researchers have long been searching for a more comprehensive way to assess national progress than GDP. erhui1979 via Getty ImagesOnce a country’s economy reaches a certain level of wealth, gross domestic product – which puts a single dollar value on a country’s total economic output – is no longer a good measure of its...