Need to go beyond GDP

The need to complement purely GDP-based progress with alternative measures of economic and societal progress is now being suggested as a new reference point for measuring quality growth

GDP has long served as an indicator of development. In terms of traditional utility theory, there was an apparent connection between more income and higher well-being, measured by the consumption levels of food, shelter, clothing, and health care. However, studies have revealed that higher income levels do not necessarily mean greater well-being especially in the context of adverse impacts on climate change, biodiversity loss, inter-species balance, lack of access to basic amenities, social inequality, and increased stress levels.

It is increasingly being recognised that a focus on GDP growth alone cannot address problems of climate change, education, health care development,