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Sat May 25, 2019, 03:15 PM


Traditionally, the economy has been measured by looking at the GDP or the stock market. Employment rates and household income are also used to measure how the average worker is doing.

However, even the creator of the GDP admits that it doesnít really reflect the full story. And, as economic inequality rises and the fruits of societyís labors accrue to fewer individuals, itís become obvious that we need to expand our definition of economic prosperity past a single number. The bottom 80% of Americans only own 8% of stocks and rising GDP has virtually no relationship with each citizenís wellbeing.

When you measure something, you implicitly set your policy goals. By focusing our measurement on GDP, weíve promoted production over all else. Itís time to start measuring economic prosperity using a wider index that measures human as well as monetary indicators, such as (but not limited to):

Quality of life and health-adjusted life expectancy
Happiness/Well-Being and Mental Health
Income Inequality
Consumer and Student Debt
Work and civic engagement levels
Infant mortality
Quality of infrastructure
Access to education
Marriage and divorce rates
Substance abuse and related deaths
National optimism
Personal dynamism/economic mobility


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