What do we mean by Beyond GDP indicators? Our definition is as follows:
“those indicators and indicator sets that have been proposed as necessary and central to the measurement of societal progress in a broad sense, other than those indicators, such as GDP or the unemployment rate, that are already playing this role.”
The important feature here is to recognise that Beyond GDP indicators are defined more by how they are intended to be used, than what they actually measure. They are a response to two related problems:
- A bias towards policies that strive for economic growth which might have negative repercussions for other goals, including reducing inequality, improving well-being, and tackling environmental challenges
- The bias is exacerbated by the prominence of GDP as an indicator, which defines economic competence.
The short presentation below illustrates what we mean in terms of indicators being used as Beyond GDP.