Economic growth is typically associated with an improved standard of living and a reduction in poverty. But is this always the case?
As income inequality grows and loneliness rises, senior economic lecturer at The University of Wollongong Dr Reetu Verma outlines why solely relying on Gross Domestic Product (GDP) as a measure of economic output can be detrimental to society.
We discuss how the economy is traditionally measured and how this can hinder quality of life aspects such as health, well-being and happiness while Dr Verma puts forward some suggested economic measures to go alongside GDP.
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