The New York Times has a review of “G.D.P.: A Brief but Affectionate History,” by Diane Coyle.
Traders view GDP as the final say on the economy but the review details some of the ways it falls short or underestimates the value of some activities.
A major omission is the work we do for ourselves: cooking, cleaning, painting a room, taking care of children or an aging relative. Pay a gardener to mow your lawn, and that’s part of the G.D.P.; do it yourself, and it’s not.
