Sizing Up Black Markets and Red-Light Districts for G.D.P.

Sizing up black markets and red-light districts for GDP

Press quote (The New York Times)
09 July 2014
Even some economists who see value in GDP as a way to measure living standards nonetheless question the wisdom of trying to tally decadence.

"If you think that drugs and prostitution are things that do not necessarily improve the quality of life in a country," said Simon Tilford, deputy director at the Centre for European Reform in London, "then including them undermines GDP as measure of well-being."