Why is GDP not an accurate measure of economic growth?
GDP is a monetary value, it is the "total money value of all final goods and services produced in an economy in one year," therefore it fails to take into consideration any social indicators, whereby the well-being of one society is not taken into consideration. Because it is a quantitative value, and because it fails to take into account social indicators, it is argued that GDP is not an accurate measure, whereby society is made of much more than the total of all economic activity.
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