The media and economic communities regularly use Gross Domestic Product (GDP), a tally of all goods and services produced within a country during a specific time period, as a measure of economic ...

For years, measuring economic welfare has been pretty straightforward. Classic economics obsess over a single value: gross domestic product. Luckily, economic paradigms are shifting, and experts are ...

The chorus decrying the shortcomings of Gross Domestic Product (GDP) as a measure of economic well-being has been rising, crescendoing recently with the release of the report by Nobel Laureates Joseph ...

In addition, GDP's reliance on market prices to measure the value of economic production can also distort understanding of economic activity, providing policymakers with an inaccurate perception of ...