While economists at the University of Chicago are concerned about the wealth of nations, law school professor, philosopher and author Martha Nussbaum is more concerned about the health of nations.
It's not always easy to enumerate, but her new book, "Creating Capabilities: The Human Development Approach," suggests we should listen less to economists and look at all the things that GDP fails to capture in measuring living standards — like what sort of opportunities are available; “What are people really able to do & be?”
Her admittedly imperfect scale is the Human Development Index.
|Building a Better Yardstick|
Audio Embed: APM & WNYC's Freakonomics Podcast,
Host: Stephen Dubner (24:31)
The Beatles - "Baby, You're a Rich Man" - Magical Mystery Tour (1967)