Is the GDP Still Accurate in the Digital Age?
GDP is the sum of all allowance earned in a dominion during a year. Alternatively, it can be view of as the appraise of all genesis in an rule during a year. But do allowance and genesis gauge wellbeing?The way we gauge GDP can twain overdraw and undervalue people’s wellbeing and welfare. It undervalues economic soul and welfare when it does not select into totality genesis that is not exalterable in a trade (grandma providing unconditional baby-sitting) and spare-period period. It overdraws welfare when two otherwise selfselfsame activities are gauged the selfselfsame well-balanced though one produces more dirt.
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