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What different types of growth (other than GDP) should be used at indicators of success in the SDGs?
What different types of growth (other than GDP) should be used at indicators of success in the SDGs?
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GDP can never be an indicator to determine how well the people of a nation are doing. GDP distribution is not even among the population. Simon Kuznets (American Economist) who received a Nobel Prize in 1971 for measuring and determining GDP mentioned that it can never be used to measure welfare (something that SDGs aim to bring about). Sadly politicians and party just aimed to boost GDP till now. It is a useful measure but bigger GDP should not be the aim of the economy. (Sadly, that is what we are taught in economics, but hope is still there :P)