How should we measure changes in an economy's standard of living, or compare living standards across countries? Typically, economists use GDP per capita as a proxy for a country's standard of living, ...

I’ve written a number of times on CD about the possible limitations of official GDP accounting methods (developed in the 1930s during the Machine Age) for measuring economic activity, output and ...

The emergence of GDP as the unique talisman of economic well-being dates back to the post-war period. (iStock) The statistics ministry recently released a bunch of fresh data-sets related to India’s ...

What’s the best way to gauge the health of the economy? Gross domestic product, a measurement that calculates the value of all goods and services produced, has long been a good way to take the ...

Gross domestic product (GDP) growth rate is the headline number everyone tracks to figure out how the economy is doing. It’s time we shifted focus to gross value added, or GVA, which is a more direct ...