Robert Costanza, Maureen Hart, Ida Kubiszewski, John Talberth, A Short History of GDP: Moving Towards Better Measures of Human Well-being, The Solutions Journal, Volume 5, Issue 1, January 2014, Pages 91-97 (https://www.thesolutionsjournal.com/article/a-short-history-of-gdp-moving-towards-better-measures-of-human-well-being/) Abstract: There has been a long overdue flurry of recent activity in developing better indicators of national progress, prosperity, well-being, and happiness. This activity has arisen from the growing recognition of the inappropriate misuse of Gross Domestic Product (GDP) as a proxy for these goals. This article reviews the history of GDP and what we can learn from that history in creating new and better indicators of societal well-being. For over a half century, the most widely accepted measure of a country’s economic condition has been Gross Domestic Product (GDP).1 GDP is an estimate of market throughput, adding together all final goods and services that are produced and traded for money within a given period of time. It is typically measured by adding together a nation’s personal consumption expenditures (payments by households for goods and services), government expenditures (public spending on the provision of goods and services, infrastructure, debt payments, etc.), net … Topics: Economy; Globalization; History; Quality of Life