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GDP Redux

Right after we find out the second quarter was a pretty good one in terms of real GDP growth, a NY Times article sought to throw some cold water on the celebration by questioning the usefulness of GDP as a statistic. Although the article makes a valid point that GDP is far from an ideal measure of ‘well-being' (disregarding the fact it was not intended to measure well being), the alternatives mentioned by the author are even worse substitutes because they are either entirely too subjective, too difficult to measure effectively or both. Instead, I propose an alternative measure; let us call it the National Happiness Index, which will be directly proportional to the number of games Notre Dame's football team loses in a given season. Last year was a very happy one indeed (at least for me anyway).

Posted 09-05-2008 3:20 PM by Brian Lego
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