Abstract: Economic development has traditionally been measured using Gross Domestic Product (GDP), which focuses on output and income growth. Although GDP is useful for showing overall economic activity, it does not fully capture real development. In many countries, GDP has continued to grow while inequality, environmental damage, and social problems have also increased. This gap between economic growth and people’s well-being has led researchers and policymakers to explore alternative ways of measuring progress. This paper argues that economic development must be evaluated through a multidimensional framework that places human well-being, equity, and sustainability at its core. Using a qualitative and conceptual approach, the study critically examines GDP’s analytical limitations andreviews prominent alternatives, including the Human Development Index (HDI), Genuine Progress Indicator (GPI), Multidimensional Poverty Index (MPI), and the Sustainable Development Goals (SDGs). Rather than rejecting GDP outright, the paper positions it as one component within a broader development assessment toolkit. The analysis highlights how beyond-GDP indicators can improve policy design by aligning economic objectives with social and environmental priorities. The paper concludes that rethinking development measurement is essential for addressing contemporary global challenges and for promoting more inclusive and resilient development pathways.
Arati N Alagundagi (Sat,) studied this question.
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