Measuring progress beyond Gross Domestic Product

Anna Shostya

Chapter 2 in Pathways To Sustainable Development, 2025, pp 21-35 from Edward Elgar Publishing

Abstract: Abstract: Among a vast number of macroeconomic indicators, Gross Domestic Product (GDP) is undoubtedly the most well known and, also, the most hotly debated. It has often been criticized for misrepresenting “real” economic conditions and failing to account for such important aspects of well-being as environmental sustainability, inequality, economic security, and resiliency. Empirical evidence has provided ample support for such criticism, pressing economists, politicians, and policymakers to start thinking beyond GDP. This chapter argues that such thinking is vital for the assessment of nations’ progress toward the UN's 2030 Agenda for sustainable development. We offer some empirical data to show that GDP does not provide an adequate picture of the economic performance of a country. We also discuss the development of the intellectual movement Beyond GDP and summarize alternative and complementary metrics, including subjective well-being measures. The chapter concludes with specific recommendations for disseminating and solidifying Beyond GDP metrics in advancing toward a sustainable future, as it is embodied in the Pact for the Future.

Keywords: Gross Domestic Product; Social and environmental well-being; National economic performance; Environmental Performance Index; Human Development Index; Disaggregation of indicators; SDG dashboard (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035356331
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