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Mismeasuring Our Lives: Why GDP Doesn't Add Up

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In February of 2008, amid the looming global financial crisis, President Nicolas Sarkozy of France asked Nobel Prize—winning economists Joseph Stiglitz and Amartya Sen, along with the distinguished French economist Jean Paul Fitoussi, to establish a commission of leading economists to study whether Gross Domestic Product (GDP)—the most widely used measure of economic activity—is a reliable indicator of economic and social progress. The Commission was given the further task of laying out an ...