This good story about Well-being vies for credibility, published yesterday in the Taipei Times, offers a great discussion of why GDP isn’t the sole or even the best measure of human economic or non-economic happiness. Here’s a quotation from the story.
“…Stiglitz said that economists have felt for a long time that GDP is not a good measure because “it doesn’t measure changes in well-being … It doesn’t necessarily mean that there will be a replacement of current measures, but maybe a construction of complementary measures.”
Joseph Stiglitz, Taipei Times, Monday January 14th, 2008 on page 11.
[ed. note And ‘yes’! I still read real newspapers made from paper! Now for some good stories from yesterday’s newspapers, just in case you didn’t read them already.]