Can you think of any limitations of GDP/GNI? / Changyu Jung

I think GDP and GNI can’t be ideal measure of social development. It’s because I think figures like these do not represent the country's economic situation correctly. I think these figures reflect an increase in corporate profits rather than the income of the general public. Also, I don't think it shows income distribution at a time when income polarization is deepening. So I think these figures don’t focus on people. And these figures can't reflect the level of welfare. Also, it does not reflect economic activities outside the market. These are the reason why I think it doesn’t show the degree of social development.

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