GDP, Growth, and Welfare: In Pursuit of Economic Wellbeing

In the years following the Second World War, the main economic goal of countries, and the main standard by which economies were judged, was the performance of their Gross Domestic Product (GDP), which was defined and measured, following rules created by statisticians and economists who had developed the official national accounts statistics, mostly in the 1930s.The pursuit of the growth of GDP has remained an overwhelming objective for most economists, politicians and international organizations.This book examines several concepts and processes related to economic growth, such as environmental degradation and climate change; income distribution and poverty; a vibrant civil society; and personal happiness and tackles the important question of whether growth itself can create problems that reduce its welfare value to populations. It weaves together two stories, the first concerns the invention of a statistical index, while the second explores the set of phenomena to which it applies.The