Has GDP Become an Irrelevant Economic Metric?

The video discusses the historical context and current reliance on GDP as an economic measure, highlighting its limitations in capturing the full economic picture, especially in a technologically advanced and consumer-driven society. It explores the challenges of finding alternative measures, such as happiness, and the implications of GDP accuracy on policy decisions and market reactions, using Japan's 2014 economic data as an example.

Why is GDP considered an important measure for policymakers?

How does technological disruption impact the relevance of GDP?

What are some alternatives to GDP that policymakers might consider?

In what ways can measuring happiness provide insights into economic performance?

What challenges do policymakers face when interpreting GDP data?