Genuine Progress Indicator (GPI): Definition, Formula, Vs. GDP
The Genuine Progress Indicator (GPI) is a metric used to measure the economic growth of a country and is considered an alternative to the more well-known gross domestic product (GDP). It accounts for environmental and social factors, making it a better measure of growth from the perspective of green or social economics. However, some critics argue that some measures are too subjective, rendering it a less effective tool for measuring economic growth.
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