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Establishing the “Gross Domestic Product of Welfare”: A Major Revision of GDP for a Better Accounting System
Abstract
Gross Domestic Product (GDP) has long been the most widely used measure of the national economy. The pursuit of economic growth exacts too high a toll in every country. Therefore, it is theoretically and practically significant to propose and establish a new index to measure the growth of national welfare—the “Gross Domestic Product of Welfare” (GDPW).
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References
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