Why Inclusive Wealth Index is a better measure of societal progress than GDP?

You don’t need to be an economic wizard or finance guru to know the definition of GDP. Even if you never took the ECON 101 class or have absolutely no inclination the financial side of the things here is the definition – GDP stands for Gross Domestic Product & it is the traditional measure used to measure financial well-being of a country and its citizens. It is the sum of the output, income and expenditure in an economy on which fiscal & monetary policies are eventually based. An increase in GDP is considered as a healthy sign & the governments’…...