The GDP as a measure of progress emerged during an era when natural resources still seemed unlimited and “quality of life” meant high economic standards of living. But if prosperity is judged only by increased economic activity, then car accidents, hospital visits, illnesses (such as cancer), and toxic spills are all signs of prosperity. Loss of resources, cultural depletion, negative social and environmental effects, reduction of quality of life—these ills can all be taking place, an entire region can be in decline, yet they are negated by a simplistic economic figure that says economic life
...more
