Is the state of the USA designed to replace the GDP with a primary measure of economic performance?© BrainMass Inc. brainmass.com September 22, 2018, 7:00 pm ad1c9bdddf - https://brainmass.com/economics/macroeconomics/genuine-progress-indicator-gpi-and-a-replacement-of-gdp-579942
Economists and policy makers around the world echoes that sentiment that the GDP does not capture the economic performance of a country.
Talberth (2010) said that a replacement of GDP as a measure of economic performance must have these characteristics,"(1) it should measure genuine economic welfare, not just economic activity, and (2) it should indicate the ...
Gross domestic product (GDP) has a number of limitations in capturing real economic growth. Genuine Progress Indicator or GNI promises a more comprehensive and realistic measurement.