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RobertF.Kennedyoncesaidthatacountry'sGDPmeasureseverythingexceptthatwhichmakeslifeworthwhile."WithBritainvotingtoleavetheEuropeanUnion,andGDPalreadypredictedtoslowasaresult,itisnowatimelymomenttoassesswhathewasreferringto.ThequestionofGDPanditsusefulnesshasannoyedpolicymakersforoverhalfacentury.Manyarguethatitisaflawedconcept.Itmeasuresthingsthatdonotmatterandmissesthingsthatdo.Bymostrecentmeasures,theUK’sGDPhasbeentheenvyoftheWesternworld,withrecordlowunemploymentandhighgrowthfigures.Ifeverythingwasgoingsowell,thenwhydidover17millionpeoplevoteforBrexit,despitethewarningsaboutwhatitcoulddototheircountry’
seconomicprospects?Arecentannualstudyofcountriesandtheirabilitytoconvertgrowthintowell-beingshedssomelightonthatquestion.Acrossthe163countriesmeasured,theUKisoneofthepoorestperformersinensuringthateconomicgrowthistranslatedintomeaningfulimprovementsforitscitizens.RatherthanjustfocusingonGDP,over40differentsetsofcriteriafromhealth,educationandcivilsocietyengagementhavebeenmeasuredtogetamoreroundedassessmentofhowcountriesareperforming.Whileallofthesecountriesfacetheirownchallenges,thereareanumberofconsistentthemes.Yes,therehasbeenabuddingeconomicrecoverysincethe2008globalcrash,butinkeyindicatorsinareassuchashealthandeducation,majoreconomieshavecontinuedtodecline.Yetthisisn’tthecasewithallcountries.
SomerelativelypoorEuropeancountrieshaveseenhugeimprovementsacrossmeasuresincludingcivilsociety,incomeequalityandenvironment.Thisisalessonthatrichcountriescanlearn:WhenGDPisnolongerregardedasthesolemeasureofacountry’ssuccess,theworldlooksverydifferent.SowhatKennedywasreferringtowasthatwhileGDPhasbeenthemostcommonmethodformeasuringtheeconomicactivityofnations,asameasure,itisnolongerenough.Itdoesnotincludeimportantfactorssuchasenvironmentalqualityoreducationoutcomesallthingsthatcontributetoaperson'ssenseofwell-being.ThesharphittogrowthpredictedaroundtheworldandintheUKcouldleadtoadeclineintheeverydayserviceswedependonforourwell-beingandforgrowth.Butpolicymakerswhorefocuseffortsonimprovingwell-beingratherthansimplyworryingaboutGDPfigurescouldavoidtheforecasteddoomandmayevenseeprogress.31.RobertF.Kennedyiscitedbecausehe[A]praisedtheUKforitsGDP.[B]identifiedGDPwithhappiness.[C]misinterpretedtheroleofGDP.[D]hadalowopinionof