GDP makes no distinction between $100 worth of tear gas and $100 worth of education. And, perhaps more importantly, it does not account for the ecological and social costs of production. If you cut down a forest for timber, GDP goes up. If you extend the working day and push back the retirement age, GDP goes up. If pollution causes hospital visits to rise, GDP goes up. But GDP says nothing about the loss of the forest as habitat for wildlife, or as a sink for emissions. It says nothing about the toll that too much work and pollution takes on people’s bodies and minds. And not only does it
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