Latest Issue

Why GDP is no longer a good measure

It is ill-suited to today’s digitally connected, globalised world

By Paul Wallace  

The February security conference in Munich saw US Vice President Mike Pence deliver a stern lecture to European members of Nato. The western alliance would be eroded, he said, if so many countries continued to shirk their fair share of defence spending, which is supposed to be at least 2 per cent of their GDP. Here was a reminder of how the big number with the little name can creep into every corner of life,…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect