Senate hearing: GDP fails to measure progress

This video is a discussion of whether the GDP is an accurate measure of economic progress in the economy.  Martin Collier believes that we are what we measure and the GDP does not measure what we value.  He suggests that GDP measures money changing hands and counts negatives as positives and excludes very valuable items.  He proposes that other statistics, which matter to the people, are presented on a more regular basis; such as real wages, people without health insurance, and people living in poverty.
Tim Ord
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