Are you High GDP Man or Low GDP Man?
For many years, certain people generally thought to be eccentric (cruising sailors among them) have extolled the virtues of spending less money, being more self-sufficient, growing and catching their own food and so forth. "Leaving the grid," some call it.
Economists who measure the quality of life ("standard of living") by the amount of resources used, frown on this approach. If everyone left the grid, it would lower the GDP.
Other economists, long in the minority, contend that GDP is a misleading measure of prosperity. So what would be a better measure?
Here is a summary of recent developments in assessing prosperity, including some alternate measurements already in use in other countries.
This is definitely worth reading.
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