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Why we cannot abandon GDP and what the world can do to improve its utility as a statistical gauge

Why we cannot abandon GDP and what the world can do to improve its utility as a statistical gauge

Why we cannot abandon GDP and what the world can do to improve its utility as a statistical gauge



Gross domestic product (GDP) has been long criticized for its inadequacy in measuring economic activity or welfare. True, it is imperfect. But it is too deeply embedded in the institutional architecture of governments, markets and global organizations to drop.

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