Beyond-GDP indicators
Gross Domestic Product (GDP)
The total market value of final goods and services produced within a country's borders in a given period — the world's headline measure of economic activity and the target of beyond-GDP critique.
Definition
Gross domestic product is the total market value of the final goods and services produced by a country's economy during a specified period, counting all output generated within its borders regardless of who owns the producing resources. It is the world's main measure of economic output, composed under the expenditure approach of consumption plus investment plus government spending plus net exports.
References
definition
scope and exclusions
Overview
What it means
GDP counts production, not welfare: it excludes unpaid and household work, ignores depreciation of natural and produced capital, treats defensive spending (disaster clean-up, commuting, treating pollution-related illness) as gain, and says nothing about distribution or sustainability. These gaps motivate the beyond-GDP agenda and alternatives such as the GPI, genuine savings, and wellbeing dashboards.
How it is used
GDP anchors fiscal and monetary policy, international comparisons, debt ratios, and growth targets; in sustainability analysis it serves as the denominator of intensity metrics and the reference point for decoupling.
Why it matters
What a society maximises it measures; GDP's dominance shapes what governments pursue, which is why redefining progress starts here.
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