Gross Domestic Product (GDP) has become the universal yardstick of progress. GDP judges the value of goods and services produced inside a country’s borders. But the number has a big problem: it only judges output. More car production for example, would seem on the surface as a success, but at what cost?
Dirk Philipsen’s book is The Little Big Number, How GDP Came to Rule the World and What to do About It. Philipsen is a faculty member at the Sanford School of Public Policy at Duke University.