>why did bother creating the HDI if GDP/capita works just as well on most cases?
Because using GDP maximization to decide policy in those other cases results in lower overall happiness.
I would have no problem if economic policy-makers were content to merely correlate their decisions with increasing the GDP. Using it as the only end-goal, though, is foolish, and using it in those exceptional cases is, by utility maximization standards, evil.
Because using GDP maximization to decide policy in those other cases results in lower overall happiness.
I would have no problem if economic policy-makers were content to merely correlate their decisions with increasing the GDP. Using it as the only end-goal, though, is foolish, and using it in those exceptional cases is, by utility maximization standards, evil.