A easy read article from Time magazine describing why the way we measure performance is primitive and unhelpful:
Is GDP An Obsolete Measure of Progress?
Since last summer the nation’s Gross Domestic Product (GDP) has gone up — indeed, it grew at a surprising 5.7% rate in the 4th quarter — seeming to confirm what we’ve been hearing: the recession is officially over. But wait — foreclosure and unemployment rates remain high, and food banks are seeing record demand. Could it be that the GDP, that gold standard of economic data, might not be the best way to gauge a nation’s relative prosperity?
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