Question

GDP does not measure people's health and _______.

Answer 1

The correct answer is happiness. The problem with GDP is that it does not take into account many other important factors that are accurate measurements of social and economic progress, such as:

- Labor practices: if workers are exploited the corporations that exploit them will still thrive and the GDP will go through the roof. if their working conditions are bad and their equipment is defective they are actually working harder to get lower outcomes than they would get if they were treated humanely.

- Work and personal life balance: workers who toil 60 hours a week will spend most of their time working, commuting to/from work and home and sleeping. They will not have time to spend with their families, for personal improvement, for leisure and for civic participation in their communities. They will also be less productive at work because of exhaustion.

- Environmental practices: a corporation that pollutes the environment will make billions while the local environments are destroyed. This will negatively affect not only the quality of life of workers and society in general it will also question the long term viability of economic activity and even human life.

All of these factors are of primordial importance for the happiness of people.