Beyond GDP Economists Search for New Definition of Well-Being

GDP may be an extremely useful economic indicator, but it ignores many factors important to the well-being of a society, such as health care or life expectancy. Economists like the Nobel laureate Joseph Stiglitz are now trying to come up with a new, broader definition of prosperity.
Von SPIEGEL Staff
A supermarket in China's Shandong province: How much does GDP really tell us about the well-being of a society?

A supermarket in China's Shandong province: How much does GDP really tell us about the well-being of a society?

Foto: STRINGER SHANGHAI/ REUTERS
Translated from the German by Christopher Sultan