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The title summed it up: GDP is not a good measure of well-being. What we measure affects what we do, and if we measure the wrong thing, we will do the wrong thing. The OECD has constructed a Better Life Index, containing a range of metrics that better reflect what constitutes and leads to well-being.Last week, at the OECD's sixth World Forum on Statistics, Knowledge and Policy in Incheon, South Korea, the Group issued its report, "Beyond GDP: Measuring What Counts for Economic and Social Performance".Political outcomes in the United States and many other countries in recent years have reflected the state of insecurity in which many ordinary citizens live, and to which GDP pays scant attention. A range of policies focused narrowly on GDP and fiscal prudence has fueled this insecurity. Had the U.S., for example, focused more on health, rather than just on GDP, the decline in life expectancy among those without a college education, and especially among those in America's deindustrialized regions, would have been apparent years ago.
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