For many years now, the GDP has been severely criticized as not adequately measuring economic progress and the quality of life. The truth, however, is that the GDP was not designed to measure human ...

Starting in spring 2014, the Bureau of Economic Analysis will release a breakthrough new economic statistic on a quarterly basis. It’s called Gross Output, a measure of total sales volume at all ...

Diane Coyle’s new book, GDP: A Brief But Affectionate History, is a timely contribution to discussions of modern economic performance. She argues that Gross Domestic Product increasingly ...

Gross domestic product (GDP) has long been the main indicator of economic growth used almost everywhere in the world. However, the measurement does not take into account other factors essential to a ...

For years, measuring economic welfare has been pretty straightforward. Classic economics obsess over a single value: gross domestic product. Luckily, economic paradigms are shifting, and experts are ...

In Douglas Adams’s The Hitchhiker’s Guide to the Galaxy, Deep Thought informs Loonquawl that the meaning of life is 42. Loonquawl exclaims, “Is that all you've got to show for seven and a half million ...

Since last summer the nation’s Gross Domestic Product (GDP) has gone up — indeed, it grew at a surprising 5.7% rate in the 4th quarter — seeming to confirm what we’ve been hearing: the recession is ...

See more of our trusted coverage when you search. Prefer Newsweek on Google to see more of our trusted coverage when you search. For most of the last seven decades, which is to say about as long as ...

There are a lot of things wrong with GDP as a measurement of how well we're all doing. Simon Kuznets pointed out a number of them when he devised the concept back in the 1930s. GDP doesn't measure the ...

The steady advance of technology is making ownership of assets less attractive and economic growth ever harder to measure. "Teenagers don't really want to own anything," Christian Lanng, chief ...

Syria’s example illustrates the challenges of gathering good economic data during conflict. Two destroyed tanks in front of a mosque in Azaz, north of Aleppo. Photo taken in August 2012 by Christiaan ...

I hate using GDP as a metric for economic growth. It does not measure how Jane and Joe Sixpack are doing. Even disposable personal income is a metric which includes a lot elements that the relatively ...