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What is the limitations of welfare …

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What is the limitations of welfare and GDP
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Preeti Dabral 1 year, 1 month ago

GDP ignores the welfare component as the goods and services produced may or may not add to the welfare to a society. For example, the production of goods, like guns, narcotic drugs, high-end luxurious goods increase the monetary value of production, but they do not add to the welfare of the majority of population.

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