Understand the income approach to GDP, where total expenditures equal the income from goods and services in an economy.

Discover how GDP and GPI together offer a clearer insight into a country's economic prosperity and well-being beyond traditional metrics.

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 ...

For years, measuring economic welfare has been pretty straightforward. Classic economics obsess over a single value: gross domestic product. Luckily, economic paradigms are shifting, and experts are ...

Diane Coyle’s new book, GDP: A Brief But Affectionate History, is a timely contribution to discussions of modern economic performance. She argues that Gross Domestic Product increasingly ...

The Bureau of Economic Analysis released its third estimate of second-quarter GDP — a revised look at how much the economy grew between the beginning of April and the end of June. Today’s update did ...

Seriously. How are you feeling about your economic situation? Because the unemployment rate is still near generational lows, inflation is down to 3.2%, and gross domestic product, or GDP, grew at a ...

Development workers constantly gnash their teeth over whether their work has any effect. But they’re faced with a fundamental problem: In undeveloped countries, accurate economic data can be ...

GDP doesn’t measure what we should care about, say critics. Is that true?

Since World War II, most countries around the world have come to use gross domestic product, or GDP, as the core metric for prosperity. The GDP measures market output: the monetary value of all the ...

I hate using GDP as a metric for economic growth. It does not measure how Jane and Joe Sixpack are doing. Even disposable personal income is a metric which includes a lot elements that the relatively ...