3. GDP alternatives: 8 ways of measuring economic health
Originally published in 2021 but updated for 2023, this article considers some of the measures used by governments, countries and organisations to gauge economic health, as an alternative to gross domestic product (GDP).
It looks at the pros and cons of systems such as the Human Development Index, created by the United Nations. This index assesses the quality of a population’s health, education and standard of living to give a more holistic overview of a nation’s development than GDP alone can provide.