# What Alternatives Are There to GDP?

**Source:** World Economic Forum
**URL:** https://www.weforum.org/stories/economic-growth/beyond-gdp-put-alternatives-economics-growth/

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> Simon Kuznets (creator of GDP): "The welfare of a nation can scarcely be inferred from a measure of national income."

## Four Alternatives Proposed

### 1. GDP 2.0 (Distributional GDP)
- Break out growth by income bracket to show who prospers
- BEA announced plans to publish distribution of personal income (2020)

### 2. Subjective Well-Being Measurement
- Regular surveys asking how happy people are
- Advocated by Nobel Laureate Angus Deaton

### 3. Better Consumption Measures
- Track household consumption as better proxy for individual welfare
- Advocated by Dale Jorgenson (Harvard) and Dan Sichel (Wellesley)

### 4. Satellite Account Improvements
- Valuing housework
- Better healthcare quality estimates
- Subjective well-being measurement