A Review of Beyond GDP: History, Barriers, Opportunities, and Cautions

Abstract

Gross domestic product (GDP) remains the dominant measure of economic progress, despite long-standing critiques including its failure to account for environmental sustainability, inequality, and social well-being. In the context of escalating climate breakdown and rising inequality, GDP is increasingly being recognized as an inadequate metric for national prosperity. This article reviews the growing movement toward alternative measures that prioritize sustainability, inclusion, and the well-being of humans and the rest of nature. Hundreds of alternatives exist, but recent research shows significant similarity among them, forming the basis for building a broad consensus. This review explores how academics and policy makers are responding to the limitations of standard national accounts and highlights broad public support for expanding economic indicators. This review also identifies the key barriers to be overcome in order to move beyond GDP—including vested interests, institutional buy-in, and the fragmentation of alternatives—and suggests strategies to address each. By examining these barriers and evaluating potential solutions within the current political landscape, this review contributes to the discourse on how national accounting systems can better evolve to reflect the goals of a just and sustainable economy embedded in society and the rest of nature.