There's one statistic that rules them all when it comes to keeping track of the economy: gross domestic product (GDP). It's the sum of all final... Can we just change how we measure GDP? There's one ...

“Measurement theory shows that strong assumptions are required for certain statistics to provide meaningful information about reality. Measurement theory encourages people to think about the meaning ...

The gross domestic product (GDP) of a nation is an estimate of the total value of all the goods and services it produces during a specific period, usually a quarter or a year. Its greatest use is as a ...

French president Nicolas Sarkozy drew heat last month when he suggested that countries should factor happiness into their statistics for growth. After all, Sarkozy campaigned on promises of wealth ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

Welfare measurement is among the most fundamental questions in economics. Policymakers and others use gross domestic product (GDP) as a proxy for welfare, but this application does not reflect the ...

There's one statistic that rules them all when it comes to keeping track of the economy: gross domestic product (GDP). It's the sum of all final transactions, so all the goods or services bought and ...