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Measure of economic success

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The creator of the GDP concept, Simon Kuznets, cautioned society against its widespread use as a measure of prosperity. Drawing on course content, answer the following:

a) What are some of the flaws of using GDP as the only measure of economic success?

b) What are some alternatives to measuring what a successfully/sustainably developed nation looks like; and how do the alternatives encourage and support sustainable development?

Reference no: EM133086379

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