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
Famous quotes containing the words major and/or limitations:
“Seeing our common-sense conceptual framework for mental phenomena as a theory brings a simple and unifying organization to most of the major topics in the philosophy of mind.”
—Paul M. Churchland (b. 1942)
“The limitations of pleasure cannot be overcome by more pleasure.”
—Mason Cooley (b. 1927)