In an interesting development which could have far reaching consequences Saxo suggests that the IMF and World Bank could turn their back on GDP in 2019, and instead use productivity as a growth measure.
"They [IMF and World Bank] argue that GDP has failed to capture the real impact of low-cost, technology-based services and has been unable to account for environmental issues, as attested by the gruesome effects from pollution on human health and the environment in India and elsewhere around the world."
If a country is looking to improve people’s happiness and health, it needs to produce more per worker than it did in the past, according to Saxo, making it a potentially more interesting measure of the world.