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Growth: when GDP is no longer enough to measure wealth

2022-01-28T18:28:44.065Z


DECRYPTION - Some believe that the concept of GDP growth is outdated or needs to be reoriented towards social, well-being and environmental objectives.


The sacrosanct measure of GDP is shaken like never before by the crisis that the world has been going through for two years.

Because if it perfectly measures the wealth created in a country, the calculation of the gross domestic product does not include aspects related to the well-being of populations and the environment.

The question arises more and more: should this reference indicator of economic performance be reformed, so that it better reflects the structural changes that characterize the evolution of modern economies?

The Banque de France, last December, posed the question to the French;

the result leaves little room for doubt: 62% of them believe that the concept of GDP growth is outdated or needs to be reoriented towards social, well-being and environmental objectives.

Read also

Germany: Vice-Chancellor Habeck tackles growth fetishism

Admittedly, the GDP is not the right instrument to measure the social and sustainable development of a nation.

“But we still need an indicator that can reliably make international comparisons…

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Source: lefigaro

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