Gross Domestic Product (GDP) is a handy term for measuring a country’s economy, but it is poor at measuring quality of life. Money spent on new construction is treated the same as money spent on rebuilding after a disaster. One furthered the infrastructure, one merely hopes to keep from retreating. A non-economic index called the Social Progress Index (SPI) was developed that measures the non-monetary aspects of life: health, safety, information, etc. If people are more important than money, then governing to SPI, or something similar, makes more sense than governing to GDP. The US is fifth in GDP, but only 16th in SPI. The issue isn’t income inequality but simply the large number of people in poverty. Improve their lives, regardless of the rich, and improve the US SPI, which will probably improve GDP.
“A Look At The Social Progress Index” – Marketplace
Pretending Not To Panic 