>GDP attempts to measure the “use” economy, i.e., the value of finished goods and services ready to be used by consumers, business and government. GDP is similar to the “bottom line” (earnings) of an accounting statement, which determined the “value added” or the value of final use.
I would agree that GDP is not really a measure of useful economic activity. But if that is so, the question begs, what practical use is the metric of GDP in the first place?
https://en.wikipedia.org/wiki/Gross_domestic_product
I would agree that GDP is not really a measure of useful economic activity. But if that is so, the question begs, what practical use is the metric of GDP in the first place?