How do the Genuine Progress Indicator (GPI) and the Human Development Index (HDI) differ from GDP as measures of development?
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The GPI is an alternative to measuring development beyond just the economic focus of GDP. The GPI considers social and sustainability factors along with GDP data. Social and sustainability factors include lifestyle concerns, like the ratio of work to leisure time; human needs, like education and a secure environment; income distribution, like poverty and affluence; and environmental needs, like clean water, pollution, and sanitation.
The Human Development Index (HDI) is a comparative measure of life expectancy, literacy, education, and standards of living for countries worldwide. It is a standard means of measuring well-being, especially child welfare. It is used to distinguish whether a country is developed, developing, or underdeveloped, and to measure the impact of economic policies on quality of life. While a country may excel in GDP, its development ranking according to one of these indicators may rise or fall depending on the quality of life it provides its people.