GDP is not an arbitrary metric of economic performance. It’s not as though it’s some kind of mistake – an accounting error that just needs to be corrected. It was devised specifically in order to measure the welfare of capitalism. It externalises social and ecological costs because capitalism externalises social and ecological costs. It’s naïve to imagine that if policymakers stop measuring GDP, capital will automatically cease its constant pursuit of ever-increasing returns, and our economies will become more sustainable. Those who call for a shift towards well-being as the sole solution tend
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