The Major Limitations of GDP
The GDP fails to measure or express changes in a nation's:
- Income distribution
- Quality of life
- Unpaid labour
- Intangible valuables (e.g. feeling secure)
- Real Savings
- Standard of Living
- Uneven inflationary price changes (e.g. a housing bubble)
- Transactions on the Blackmarket
Read more about this topic: Measuring GDP
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