Yeah but all that is indirectly related to how your people are doing, you could have the highest GDP in the world and yet if income inequality is high enough people could be starving in the streets while others have Mansa Musa or Crassus kinds of wealth stares at America
I think domestic wise the most useful figure would be one that reflects three factors
A) average productivity per working hour per worker, how much stuff is getting done, and how much better or worse is that amount of stuff getting done relative to last year or over the last decade
B) 1-(%of new income which goes to the top 1% richest of the country) maybe call it the distribution rating, the higher it is the better!
C) Velocity of currency within the country, how much of the total financial weight of the country is effectively in play at any given moment, or how much isn't being stowed away and horded by the Uber rich.
In other words, how much work is getting done, how much of the benefit of that work is going back to the people who did the work that got done, and how much of that and the benefit of years prior is currently in circulation vs how much is being kept out of play.
Topic: How to analyze a country's economic well being by not using GDP/capital or GDP (Read 1160 times)