by Letters to the ... on 06 Apr 2015
Gross Domestic Product (GDP) has been used a long time as a measure of economic growth and assumed to describe the overall economic health of a nation.
The calculation of GDP, however, does not factor in the real costs of doing business. Issues such as social and environmental impacts are not considered.
Resource depletion and pollution remediation are not factored in.
When these other factors are considered, we have something called the Genuine Progress Indicator (GPI).