The Limits of GDP as a Measure
GDP measures the total market value of production, but it leaves out things that matter for wellbeing yet are not bought and sold, like unpaid housework and childcare, volunteer work, and leisure time, and it says nothing about how evenly that production is distributed among a country's own population. GDP also does not subtract the environmental or social costs of producing that output, so a rising GDP number does not necessarily mean a country's residents are actually better off in every way; GDP specifically measures total production, not overall wellbeing or how fairly that production is shared.
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