US Economy

Justin Wolfers explains how GDP can be improved

How GDP can be improved, explained by Justin Wolfers

University of Michigan economist Justin Wolfers explains how GDP doesn't take into account things like the distribution of wealth, crime, domestic work that isn't paid for, or environmental consequences, among other things. While rich countries exhibit more happiness, economic growth is just one component of a broader platter of attributes that successful countries demonstrate.

Watch the video above to find out how Justin Wolfers thinks the GDP can be improved.