The Measure of Progress

“A Financial Times Best Economics Book of the Summer”“A Choice Outstanding Academic Title of the Year”“The Measure of Progress works well as a standalone read… . [But] the real value of The Measure of Progress lies in its timing. Coyle reflects that while writing it economists, following the effects of the pandemic and Russia’s full-scale invasion of Ukraine, were preoccupied with productivity and inflation respectively. Scrutinising GDP of course fits in well with this agenda… . Coyle’s focus on a statistical infrastructure to better measure and understand where value lies in global production networks could not be more relevant.”—Alan Smith, Financial Times”[The Measure of Progress] should be widely read by anyone involved in economic policymaking or research.”—Vic Duggan, Irish Times“This is an important and timely book on a subject that has for too long been consigned to the fringes of economic and policy thinking: finding a more accurate metric than Gross Domestic Product (GDP) to measure economic growth and value.”—David Goodhart, The Critic“We should ALL read this important book… . While many of GDP’s shortcomings are well-known, Coyle sets out elegantly and compellingly why these issues have now become so numerous, and so serious, that we should rethink radically how we measure our progress.”—Kate Barker, The Society of Professional Economists“In this book, which surveys a wide range of literature, Coyle goes much further than has been done before in monetary economics, setting out the problems with many current measures of components of GDP clearly.”—Geoffrey Wood, Central Banking“Economic accounting’s use of gross domestic product dates back to the 1940s. It must now change, argues economist Diane Coyle … [Her] complex study, deftly made accessible, suggests a fresh approach.”—Andrew Robinson, Nature“These wide-ranging, careful, and highly intelligent discussions make this a valuable book for even those without a significant interest in the immediate issues related to GDP.”—Kenneth S. Friedman, Interdisciplinary Journal of Economics and Business Law”[Coyle] offers a full-ranging account of attempts to measure aggregate economic activity… . Highly recommended.” * Choice *“Diane Coyle’s The Measure of Progress: Measuring What Matters offers a timely critique of Gross Domestic Product (GDP) as the preeminent metric for societal advancement … [She] brings us to the cutting edge of discourse on economic measurement… . This book is a roadmap for reimagining how we define and measure human progress. Coyle’s rigorous analysis and synthesis of a large body of very recent research, coupled with her clear and accessible prose, makes this an essential read for economists, policymakers, business leaders, and indeed, anyone seeking a deeper understanding of our complex and evolving economic world.”—Leonard Nakamura, Business Economics“Diane Coyle shows, statistics are not just numbers on a page, but the lens through which we see progress itself — and a vital tool for building a fairer society and a stronger economy.”—Andrew Leigh, Assistant Minister for Productivity, Competition, Charities & Treasury, Parliament of Australia, for Inside Story“To anyone interested in issues at the intersection of economics, statistics and ethics, Coyle’s book is a treasure-trove of insights that will repay close reading and re-reading… . As a work of political economy, The Measure of Progress is not only an important addition to Coyle’s impressive body of work, but leads us to the beginning of a new conversation.”—James Hodgson, LSE Review of Books“This is an important book.”—Martin Wolf, Financial Times

Diane Coyle is the Bennett Professor of Public Policy at the University of Cambridge. She is the author of Cogs and Monsters: What Economics Is and What It Should Be, GDP: A Brief but Affectionate History, and many other books.