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Articles on Gross Domestic Product

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Researchers have long been searching for a more comprehensive way to assess national progress than GDP. erhui1979 via Getty Images

Pandemic recovery will take more than soaring growth – to fuel a more equitable economy, countries need to measure the well-being of people, too

GDP only measures economic growth – not inequality, poverty or unpaid work like elder care. So researchers in the Netherlands developed a new way for governments to see how people are actually doing.
Would the economy be in better shape if the RBA had cut interest rates sooner? AAP Image/Bianca De Marchi)

Vital Signs: does monetary policy work any more?

The Reserve Bank of Australia says it’s prepared to ease monetary policy further if needed to stimulate the economy. But is the policy working when interests rates are so low?
New Zealand’s well-being budget was based on a set of measures that include cultural identity, environment, income and consumption, and social connections. from www.shutterstock.com

The search for an alternative to GDP to measure a nation’s progress – the New Zealand experience

New analysis shows that if New Zealand replaced GDP with the Genuine Progress Indicator, which accounts for social and environmental costs, it would be only half as well off.
We care about more than economics when it comes to the polling booth. So why don’t governments listen? from www.shutterstock.com

It’s time to vote for happiness and well-being, not mere economic growth. Here’s why:

Countries around the world are taking society’s happiness and well-being into account when formulating policy. So, why is Australia so focused on economics as the sole marker of progress?

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