How to measure a good life – tips for moving beyond GDP

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Unpaid work, such as volunteering at a food bank, does not typically count towards gross domestic product. Credit: Getty

For decades, economists have known that using gross domestic product (GDP) alone to guide policy is problematic. The metric is mainly a measure of market production, albeit one with strong marketing and branding, and misses key elements of what makes a good life. Nevertheless, failure to agree on alternatives has held back the debate over what should replace it.

Beyond growth — why we need to agree on an alternative to GDP now