I have posted here before on the misleading character of GDP as an indicator of 'economic success', so I very much welcome the Office of National Statistics development of two new measures:

Gross Inclusive Income; and
Net inclusive income.

This will count those things absent from GDP but which can enhance welfare/wellbeing of the population.

How this will relate to the UN Human Development Index is as yet unclear, but a move in the right direction!

#GDP #economics

https://www.theguardian.com/business/2024/nov/19/inclusive-income-rival-gdp-measuring-economic-growth