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GDP’s relevance to well-being

GDP is a poor measure of a society’s well-being for several reasons. It potentially obscures gross inequality; it fails to reflect the externalities, the unpriced natural capital, and the social costs of classism inherent to the capitalist enterprise; and it reflects a fundamentally unsustainable economic system based on perpetual growth incompatible with the narrow conditional parameters necessary for human life on our frail and finite planet. The health, happiness, and well-being of actual human beings matters far more than the bottom lines of corporations or a nation-state’s gross domestic production units consumed.

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